Strong clearance rate and record highs for volume in three capital cities

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

A desire by vendors to sell before Easter and the strong market this year has resulted in record volumes for the year in Sydney, Adelaide and Perth. The results show that the high volumes did not overwhelm demand. The auction market is clearly responding positively to the interest rate cut two months ago.

National Auction Review Capital Cities

A preliminary weighted average clearance rate of 77.5 per cent was recorded this week across capital cities compared to 75.9 per cent last week and 67.7 per cent this time last year.

In Sydney a preliminary clearance rate of 84.6 per cent was recorded compared to 84.8 per cent last week and 75.9 per cent last year. Buyers responded very well to the high volumes this week and kept the market in boom territory.

National Auction Preview - Sydney

In Melbourne a preliminary clearance rate was 78.5 per cent was recorded, compared to 77.1 per cent last week and 66.9 per cent this time last year. Volumes are similar to this time a year ago however more homes have been sold due to strong demand from buyers.

National Auction Preview - Melbourne

In Brisbane a preliminary clearance rate of 45.6 per cent was recorded compared to 41.5 per cent last week and 47.1 per cent last year.

National Auction Preview -  Brisbane

In Adelaide a preliminary clearance rate of 69.1 per cent was recorded compared to 64.6 per cent last week.

National Auction Preview -  Adelaide

In Canberra a clearance rate of 58.1 per cent was recorded compared to 62.1 per cent last week.

In Perth a clearance rate of 57.7 per cent was recorded compared to 23.1 per cent last week and 41.7 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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One Response to Strong clearance rate and record highs for volume in three capital cities

  1. Hamish April 9, 2015 at 1:24 pm #

    Likely these high numbers will be maintained in the coming weeks- I had no trouble selling my property in Adelaide last month.

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