National clearance rate stable at 68.4 per cent

RP Data National Auction Comment, week ending 17 August, 2014

A preliminary weighted average clearance rate of 68.4 per cent was recorded this week across capital cities compared to 68 per cent last week and 70.4 per cent this time last year.

The health of the national auction market this year is highlighted by the fact that since the start of the year, not including this week, there had been 42 per cent more homes sold under the hammer compared to this time last year. In raw numbers this is 36,608 homes sold at auction compared to 25,623 last year.

RP Data nation auction review | Capital city

A significant contributor to the improved national result is Sydney and this continued this week. In Sydney a preliminary clearance rate of 76.7 per cent was recorded this week compared to 74.7 per cent last week.

RP Data nation auction review | Sydney

Melbourne returned a result on trend this week with a preliminary clearance rate of 67.7 per cent recorded compared to 69.6 per cent last week.

RP Data nation auction review | Melbourne

In Brisbane a preliminary clearance rate of 50 per cent was recorded compared to 33.3 per cent last week.

RP Data nation auction review | Brisbane

Adelaide recorded a clearance rate of 69.2 per cent compared to 69.1 per cent last week.

RP Data nation auction review | Adelaide

In Canberra a clearance rate of 55.2 per cent was recorded and in Perth there was a clearance rate of 27.3 per cent.

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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