Growth in Sydney volumes after records in Melbourne

RP Data national auction market reviewRP Data National Auction Preview, week ending 2 November 2014

There are 2,380 auctions scheduled across Australia this week. In capital cities there are 1,830 auctions expected compared to 1,668 for the same period last year.

National auction numbers are lower this week – all due to the break for Tuesday’s Melbourne Cup horse race.

There are 175 auctions scheduled in Melbourne this week, compared to 1,837 last week and 196 this time last year. After final results were collected last week’s 1,837 auctions broke the previous record by 13.5 per cent.

  • In Sydney RP Data is expecting 1,159 auctions compared to 961 last week and 1,105 for this week last year. This is the first weekend of the spring selling season with more than 1,000 auctions and the eighth for the year. The fact that at this stage last year there had been none provides another example of how volumes have risen this year.
  •  Auction volumes are increasing in Brisbane with 216 auctions expected after 211 were held last week. They are also well up on last year when there was only 133. The highest volume of auctions this week is expected in Ascot, which has 9.
  •  Adelaide is expecting 159 auctions, compared to 127 last week.
  •  Canberra has 77 auctions scheduled compared to 56 last week.
  •  Perth has 23 auctions compared to 34 last week
  •  There are 16 auctions scheduled in Tasmania.

Across Australia, the highest volume of auctions will be in Maroubra which has 22 expected.

Robert Larocca
RP Data Auction 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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