By Robert Larocca

RP Data national auction volumes

RP Data National Auction Preview, week ending 6 July, 2014

RP Data auction spokesperson Robert Larocca reports:

There are 1,651 auctions scheduled across Australia this week. Across the capital cities there are 1,322 auctions expected compared to 1,029 to the same period last year.

Generally, the first two weekends in July is the midyear low point of the national auction market, all brought about by cooler weather and school holidays which combine to create a lull in the market. Buyers experiencing difficulty in finding an appropriate home for sale right now will find that by the end of August volumes should be around double what they currently are.

  • In Sydney there are 558 auctions expected compared to 861 last week. The clearance rate for the first six months of this year was 74.4 per cent indicating the market has been slightly below trend for the last month.
  • In Melbourne there are 497 auctions scheduled compared to 811 last week. The clearance rate for the first six months of the year has been 67 per cent with the past three weeks showing an improvement to trend.
  • Brisbane is expecting 115 auctions following 153 last week.
  • Adelaide is expecting 75 auctions compared to 79 last week.
  • Canberra has 38 auctions scheduled compared to 35 last week.
  • Perth has 30 auctions compared to 39 last week
  • There are 9 auctions scheduled in Tasmania.

Across Australia, the highest number of auctions is expected in St Kilda (VIC) and Surry Hills (NSW), each of which has 10 scheduled.

Robert Larocca
RP Data Auction Market Specialist

Source: RPD

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