Four more weekends of auctions until Christmas

CoreLogic RP Data National Auction Preview, week ending 30 November 2014

National auction market preview | CoreLogic RP Data | Robert LaroccaThere are 3,977 auctions scheduled across Australia this week. In capital cities there are 3,351 auctions expected, compared to 3,472 for the same period last year.

So far this month the auction clearance rate for capital cities has dropped from 68.2 per cent in October to 66.5 per cent and this is largely due to the Melbourne market.

Unlike the horse racing or AFL the state election this Saturday has had no impact on volumes. There are 1,426 auctions scheduled in Melbourne this week, compared to 1,433 last week and 1,598 this time last year. With one weekend remaining this month the November clearance rate is 67.5 per cent, down from 70.5 per cent in October.

In Sydney, CoreLogic RP Data is expecting 1,374 auctions compared to 1,337 last week and 1,402 for this week last year. In line with the national trend the clearance rate has also softened in Sydney. The reduction is minor, from 73.8 to 72.1 per cent.

In Brisbane 254 auctions are expected after 219 were held last week.

Adelaide is expecting 154 auctions, compared to 147 last week.

Canberra has 80 auctions scheduled compared to 97 last week. The auction market appears to be strengthening with the clearance rate so far in November up to 59 per cent from 47.4 per cent in October.

Perth has 55 auctions compared to 55 last week

There are 10 auctions scheduled in Tasmania.

Across Australia, the highest volume of auctions will be in Reservoir (VIC) and Richmond (Vic) each of which has 23 expected.

Robert Larocca
CoreLogic 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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