Scheduled auctions in Sydney exceed those in Melbourne

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

National auction preview, RP DataThere are 2,169 auctions scheduled across Australia this week across 1,137 different suburbs or towns. In capital cities there are 1,769 auctions expected compared to 1,572 to the same period last year.

The overall national auction market is displaying a very consistent performance right now with stable clearance rates.

Compared to this week last year, the only significant difference is in volumes with a significant rise expected in Sydney. With the exception of weeks that are affected by public holidays or very low volumes, this is also the first time Sydney has had more auctions than Melbourne for the year. This would have been inconceivable a year ago.

  • In Sydney there are 758 auctions expected compared to 785 last week. Whilst similar to last week, it is significant to note that this is 27.6 per cent more than last year.
  • In Melbourne there are 728 auctions scheduled compared to 946 last week. The Melbourne auction market appears to be improving with the clearance rate being close to 70 per cent in the last fortnight.
  • Brisbane has 132 expected auctions following 141 last week
  • Adelaide has 72 expected auctions compared to 74 last week
  • Canberra has 33 scheduled auctions compared to the 35 last week
  • Perth has 36 auctions compared to 45 last week
  • There are 10 auctions scheduled in Tasmania

Across Australia, the highest number of auctions is expected in Preston (VIC) and Randwick (NSW), both of which have 14. Overall volumes are also high in the northern suburbs of Melbourne as Reservoir, which neighbors Preston has 13 auctions

 

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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One Response to Scheduled auctions in Sydney exceed those in Melbourne

  1. DeanAshby July 31, 2014 at 3:08 pm #

    It clearly shows that anything that is unpredictable does not necessarily mean it is impossible to happen. For me, it is a positive thing that Sydney will have more auctions as compared to Melbourne. Looking at these statistics, it will be no surprise should Melbourne supersedes Sydney in the number of auctions next year because the difference in their figures are not that far apart actually.

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