Clearance rate of 72.2% across capital cities on spring eve

RP Data National Auction Comment, week ending 31 August, 2014

A preliminary weighted average clearance rate of 72.2 per cent was recorded this week across capital cities compared to 69.5 per cent last week and 71.5 per cent this time last year. This is the highest recoded since early March this year.

RP Data auction market comment | Capital city

Data from the last four weeks has shown that this the best lead into spring since 2010 with more homes being sold at auction and overall higher prices in most capital cities.

 

In Sydney the market is delivering results comparable to this time last year and looks set to have a strong spring. This week a preliminary clearance rate of 81.1 per cent was recorded compared to 76.1 per cent last week.

RP Data auction market comment |  Sydney
In Melbourne there was a preliminary clearance rate of 71 per cent recorded compared to 70.7 per cent last week. This has been the most vibrant auction market since the middle of February this year with three consecutive weeks over 70 per cent.

RP Data auction market comment | Melbourne
In Brisbane a preliminary clearance rate of 47 per cent was recorded compared to 51.2 per cent last week.

RP Data auction market comment | Brisbane

Adelaide recorded a clearance rate of 66.1 per cent compared to 67.2 per cent last week.

RP Data auction market comment | Adelaide

In Canberra a clearance rate of 72.4 per cent was recorded and in Perth there was a clearance rate of 46.2 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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