Capital city auction numbers rise 38 per cent

RP Data National Auction Comment, week ending 29 June, 2014

A preliminary weighted average clearance rate of 68.1 per cent was recorded this week across capital cities compared to 65.4 per cent last week and 66.9 per cent this time last year.

Based on the auctions conducted in the first six months of this year volumes have risen by a remarkable 38 per cent since 2013. More people are selling homes by auction this year and this is a sign of a market that is performing well and delivering results for sellers and buyers.

RP Data National Auction Comment

Sydney continues to see the highest rates of sale at auction. This week a preliminary clearance rate of 73.2 per cent was recorded compared to 70.1 per cent last week.

RP Data Sydney Auction Comment

The improvements in the Melbourne market over the last few weeks have been sustained with a preliminary clearance rate of 69.3 per cent recorded compared to 69.1 per cent last week.

RP Data Melbourne Auction Comment

In Brisbane, a preliminary clearance rate of 43.9 per cent was recorded compared to 32.2 per cent last week. Adelaide recorded a clearance rate of 66.7 per cent compared to 59.7 per cent last week. In Canberra a clearance rate of 63.6 per cent was recorded and in Perth there was a clearance rate of 50 per cent.

RP Data Brisbane Auction Comment

 

RP Data Adelaide Auction Comment

Robert Larocca
RP Data Housing Market Specialist
0409 198 350

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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