Spring starts with solid week of auctions

by Julia Corderoy07 Sep 2015
Australia’s auction markets have made a solid start to spring, with more than 2,300 residential auctions scheduled for this week.

According to figures from CoreLogic RP Data, 2,335 auctions are scheduled this week, slightly down on the 2,792 winter ended with last week, but well up on the 1,897 held on the same weekend last year.

Across winter, the combined capital city clearance rate finished at 75.5% from 26,577 auctions, with Sydney and Melbourne unsurprisingly the strongest performing markets. 

This week Sydney is set to be the busiest market, with 1,030 auctions scheduled, compared to the 1,106 last week.

The harbour city will be hoping to see an increase in its clearance rate this week after recording the lowest rate of the year last week at just 75.1%.

Melbourne has experienced a similar drop in volumes this week, with 1,007 auction markets, compared to 1,188 last week.

The Victorian capital had a strong week in clearance rate terms last week, with a final clearance rate of 76.7%, having increased from 74.3% across 964 auctions the previous week.

Melboune’s St Kilda and South Yarra will be the nation’s two busiest suburbs this weekend, with 18 and 17 auctions respectively.

Brisbane is set to hold 139 auctions this week, down from 169 last week.

Adelaide has also seen a drop in its auction volumes, with 68 scheduled this week compared to last week’s 102, while Perth is set hold 29, down from last week’s 34.

In Canberra, CoreLogic RP Data is currently tracking 53 auctions, similar to last week when 47 were held in the nation’s capital.
 

COMMENTS