By Robert Larocca

RP Data auction market preview

RP Data National Auction Preview, week ending 10 August, 2014

There are 1,726 auctions scheduled across Australia this week. In capital cities there are 1,372 auctions expected compared to 1,441 for the same period last year. Based on previous years this annual period typified by low auction volumes should be over by the end of the month.

The national clearance rate has been both stable over the past few weeks and in line with this time last year. Given the higher volumes this means more active buyers are in the market.

  • In Melbourne the auction market has now returned three solid weeks with moderate improvement. There are 673 auctions scheduled this week compared to 636 last week and 677 this time last year. The performance of the market may change again as inner eastern suburbs are featuring the highest volumes of auctions once again.
  • In Sydney there are 486 auctions expected compared to 588 last week and 521 for this week last year. Last week’s clearance rate of 76.7 per cent was the highest since March. The auction market is following the trajectory of last year which suggests a very competitive spring ahead for buyers.
  • Brisbane is expecting 97 auctions after 96 last week.
  • Adelaide is expecting 50 auctions compared to 95 last week.
  • Canberra has 31 auctions scheduled compared to 28 last week.
  • Perth has 25 auctions compared to 20 last week.
  • There are 9 auctions scheduled in Tasmania.

Across Australia, the highest number of auctions is expected in Malvern East, Balwyn North and Reservoir, each of which has 13 scheduled.

Robert Larocca
RP Data Auction Market Specialist
0409 198 350

Source: RPD

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