By Robert Larocca

RP Data National Auction Results: WE 11 May 2014

The preliminary auction clearance rate* of 67.4 per cent was recorded this week across capital cities compared to 62.3 per cent last week and 65.6 per cent this time last year.

Volumes have been lower this week as the market heads into a traditionally quieter time in winter. The higher clearance rate is largely a factor of a stronger Sydney market where a preliminary clearance rate 76.1 per cent was recorded compared to 71.4 per cent last week.

The higher national clearance rate does not represent a significant shift in the market and is broadly in line with the trend this year, particularly with the results prior to Easter and Anzac Day.

In Melbourne a preliminary clearance rate of 63.4 per cent was recorded compared to 61.9 per cent last week. Last week’s Melbourne clearance rate was the lowest since late 2012 and is running counter to the established trend through the last year and also reflects moderating growth in property values.

Melbourne Auction Results: WE 11 May 2014

In Brisbane a preliminary clearance rate of 54.8 per cent was recorded compared to 42.4 per cent last week. Adelaide recorded a clearance rate of 60.5 per cent compared to 62.7 per cent last week. In Canberra a clearance rate of 58.8 per cent was recorded and in Perth there was one auction sale from eight results. In Tasmania there was two sales from three results.

Brisbane Auction Results: WE 11 May 2014

Adelaide Auction Results: WE 11 May 2014

Robert Larocca
RP Data Housing Market Specialist

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*Weighted average

Source: RPD

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