Records for auctions in 2015 in three capital cities

CoreLogic RP Data National Auction Preview, week ending 29 March 2015

National auction previewThis is a big week nationally for auctions with record volumes for 2015 expected in Sydney, Adelaide and Perth. The rate cut from nearly two months ago will now be having an impact on listings as vendors will have had sufficient time to both decide sell and undertake a marketing campaign. The fact that this is the last week before Easter will also have had an impact on volumes.

There are 3,961 auctions expected this week across Australia with 3,323 expected in capital cities. This is compared 2,896 last week and 3,039 for the same week last year.

In Sydney 1,343 auctions are expected this week compared to 1,123 last week and 1,163 this week last year. This is the biggest weekend for auctions in Sydney this year but is short of the all time record of 1,631 at the end of November last year.

In Melbourne 1,459 auctions are expected compared to 1,333 last week and 1,414 this week last year. Over one thousand auctions in a week have become the norm for the late summer, autumn and spring markets as volumes have risen with buyer demand and sellers have increasingly opted for auctions as a selling method.

There are 195 auctions expected in Brisbane compared to 185 last week and 238 this week last year.

This week there are 166 auctions expected in Adelaide compared to 112 last week and 107 over the same week last year. This is the biggest weekend for auctions this year in Adelaide.

In Canberra there are 84 auctions expected, compared to 74 last week and 51 this week last year.

In Perth 56 auctions expected over the coming week, compared to 46 recorded last week and the 55 on this week last year. This is the biggest week of the year for auctions in Perth.

Across Australia the highest volume of auctions in one suburb are 29 in Reservoir (VIC).

Robert Larocca
CoreLogic RP Data Auction 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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