Record volumes in Melbourne as national auctions exceed 3,000 mark

RP Data National Auction Preview, week ending 26 October 2014

RP Data auction preview | Robert LaroccaThere are 3,434 auctions scheduled across Australia this week. In capital cities there are 2,883 auctions expected compared to 2,941 for the same period last year.

With a record volume expected in Melbourne this week it is interesting to reflect on the highest volumes in other capital cities. Sydney’s record was 1,496 in April this year, in Adelaide the record of 188 was posted in April 2011, in Brisbane it was 245 in December last year, Canberra saw 93 auctions in November last year and in Perth it was 79 in early December last year.

  • There are 1,641 auctions scheduled in Melbourne this week, compared to 1,167 last week and 1,619 this time last year. This will be a new all time record for the number of auctions in a week in Melbourne, exceeding the previous record set last year
  • Based on the past fortnight, the Sydney auction market appears to have softened marginally. In Sydney RP Data is expecting 859 auctions compared to 929 last week and 927 for this week last year. The most auctions will be found in Randwick where 14 are expected
  • Brisbane is expecting 184 auctions after 159 were held last week
  • Adelaide is expecting 115 auctions, compared to 103 last week
  • Canberra has 52 auctions scheduled compared to 55 last week
  • Perth has 22 auctions compared to 23 last week
  • There are 13 auctions scheduled in Tasmania

Across Australia, the highest volume of auctions will be in Brighton (Vic) and Richmond (Vic) each of which has 27 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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