National clearance rate reaches 77.4% from weekend auctions

CoreLogic RP Data National Auction Comment, week ending 22 March 2015

After 6 weeks with a clearance rate in the mid to high 70’s sellers in Melbourne, Sydney, Canberra and Adelaide can be quite confident of attaining a good outcome when selling at auction.

CoreLogic RP Data national auction review | Capital City

A preliminary weighted average clearance rate of 77.4 per cent was recorded this week across capital cities compared to 77.2 per cent last week and 69.4 per cent this time last year.

In Sydney demand continues to outpace supply at auction with a preliminary clearance rate of 84.7 per cent was recorded compared to 83.9 per cent last week and 76.1 per cent last year.

CoreLogic RP Data national auction review | Sydney

In Melbourne auction market conditions are very strong and favoring sellers. If this continues post Easter it will begin to impact overall price movements. This week the preliminary clearance rate was 78.1 per cent, compared to 78 per cent last week and 69.4 per cent this time last year.

CoreLogic RP Data national auction review | Melbourne

In Brisbane a preliminary clearance rate of 52.1 per cent was recorded compared to 47 per cent last week and 37.8 per cent last year.

CoreLogic RP Data national auction review | Brisbane

In Adelaide a preliminary clearance rate of 73.8 per cent compared to 66.7 per cent last week.

CoreLogic RP Data national auction review | Adelaide

In Canberra a clearance rate of 71.1 per cent was recorded compared to 68.8 per cent last week.

In Perth a clearance rate of 17.4 per cent was recorded compared to 41.4 per cent last week and 50 per cent last year.

Robert Larocca
CoreLogic 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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