NSW regional centre tops the list for auctions across Australia

RP Data National Auction Preview, week ending 15 June, 2014

RP Data national auction previewThere are 2,216 auctions scheduled across Australia this week with 1,787 expected in capital cities. The highest volume of auctions in one place this week is in the NSW regional town of Dubbo with 23 auctions planned before the weekend.

Auction volumes have dropped from last week, however, in a sign of consistency they are still following the trend compared to last year. There are 8 per cent more auctions scheduled than the same time last year. It is important to note that volumes last week were boosted by the impact of Queen’s Birthday the previous weekend.

  • In Melbourne there are 834 auctions scheduled compared to 1,016 last week. Last week’s clearance rate was the strongest in the past three months and was a very positive sign for the market and it will motivate vendors considering selling in spring.
  • In Sydney there are 688 auctions expected compared to 798 last week. Last weekends clearance rate of 69.3 per cent was well down on the year to date result of 75 per cent and suggests improving conditions for buyers over winter in the auction market.
  • Brisbane has 123 expected auctions following 132 last week.
  • Adelaide has 65 expected auctions compared to 74 last week.
  • Canberra has 33 scheduled auctions compared to the 41 last week.
  • Perth has 36 auctions compared to 32 last week
  • There are 13 auctions scheduled in Tasmania.
  • Across Australia, the highest number of auctions are expected in Dubbo with 23 scheduled, most of which are for residential development blocks. In capital cities the highest volume are in Richmond (VIC) with 19 expected.

 

Robert Larocca
RP Data Housing Market Specialist

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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