Spring selling season heats up over weekend

by AB26 Oct 2015
There was little sign of a slowdown in this year’s spring selling season, with figures revealing that the weekend was another bumper week of auctions across the country.

According to figures from CoreLogic RP Data, more than 3,000 auctions were set to be held across the nation’s capital cities over the weekend, up from the 2,858 held the week prior.

While the number of auctions has been going up in recent weeks, the national clearance rate hasn’t, with it being recorded at 67.4% for last week.

Melbourne was again be the biggest auction market over the weekend, with the Victorian capital holding more than half of the country’s auctions over the week.

Across Melbourne there were 1,710 auctions scheduled, up from the 1,481 that were scheduled in the week ending 18 September - making it Melbourne’s busiest for the year.

Last week Melbourne was the pick of the capital city markets, with its clearance rate of 72.7% the nation’s highest despite having the highest number of auctions as well.

Meanwhile auction volumes have fallen out of four-figure territory in Sydney, with the harbour city holding 996 auctions over the weekend, down from the 1,063 held in the week prior.

According to CoreLogic RP Data, vendors will be hoping the reduced stock on offer will encourage more competition among buyers, after Sydney's final clearance rate was recorded at 63.7 in the week ending 18 September, the lowest the city has seen in more than two years.

Brisbane has 213 auctions scheduled after the Queensland capital held 145 in the week prior.

Adelaide held 109 auctions over the weekend after holding 93 in the week prior, while Perth was set for 35 auctions over the weekend, compared to 16 in the week ending 18 September.

Canberra’s auction market cooled over the weekend, with just 60 auctions set to take place, compared to 86 in the week prior.