RP Data National Auction Comment; Week ending 25 May, 2014

Volumes rise and demand increases across capital city auction markets

A preliminary auction clearance rate* of 66.1 per cent was recorded this week across capital cities compared to 66.6 per cent last week and 67.1 per cent this time last year.

RP Data national auction comments - Capital city

Demand from buyers was clearly sufficient to ensure that the clearance rate was largely unaffected by the substantial 61 per cent rise in homes on offer at auction compared to this time a year ago.

In the Sydney market demand strengthened with a preliminary clearance rate of 76.2 per cent recorded compared to 69.9 per cent last week. Buyers have welcomed the increased choice this week.

RP Data national auction comments, Sydney

In Melbourne demand and supply continue to be well balanced with a preliminary clearance rate of 61.7 per cent recorded compared to 68.8 per cent last week.

RP Data national auction comments, Melbourne

In Brisbane a preliminary clearance rate of 49.5 per cent was recorded compared to 46.5 per cent last week. Adelaide recorded a clearance rate of 67.2 per cent compared to 63.8 per cent last week. In Canberra a clearance rate of 50.9 per cent was recorded and in Perth there was a clearance rate of 45.2 per cent. In Tasmania there was 2 sales from 4 results.

RP Data national auction comments, Brisbane

RP Data national auction comments, Adelaide

 

Robert Larocca
RP Data Housing Market Specialist

*Weighted average 

About Robert Larocca

Robert Larocca has built a profile over the past eight years as an expert on the Victorian residential property market. He worked for the REIV both directly and as a consultant over 8 years acting as a spokesperson, managing its research department and public policy. He has been a media and government relations consultant and spent a decade working across the three levels of government including as a Councillor and Mayor in the City of Moreland. He has well developed leadership skills in the not for profit sector and has been the Chairperson of CERES Community Environment Park for 9 years.

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