Records broken in auction market

RP Data National Auction Comment, week ending 26 October 2014

A preliminary weighted average clearance rate of 70.5 per cent was recorded this week across capital cities compared to 68.6 per cent last week and 71.8 per cent this time last year.

This was a strong week for auctions nationally and results suggest that the remaining eight weeks should provide good outcomes for sellers and plenty of choice for buyers.

RP Data auction review | Capital City

In Sydney a preliminary clearance rate of 78.1 per cent was recorded compared to 72 per cent last week and 79.7 per cent last year. After two lackluster weeks the Sydney market has returned to trend.

RP Data auction review | Sydney

In Melbourne there was a preliminary clearance rate of 70.6 per cent recorded compared to 71.7 per cent last week and 71.9 per cent this time last year. Not only were there a record number of auctions but a record number of homes sold at auction with the previous high of 1,163 from a year ago surpassed.

RP Data auction review | Melbourne

In Brisbane a preliminary clearance rate of 50.6 per cent was recorded compared to 46 per cent last week.

RP Data auction review | Brisbane

Adelaide recorded a clearance rate of 55.6 per cent compared to 53.3 per cent last week.

RP Data auction review | Adelaide

In Canberra a clearance rate of 58.3 per cent was recorded.

In Perth a clearance rate of 28.6 per cent was recorded.

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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