Lowest clearance rate recorded since early March, with auction volumes set to be lower this week compared to last week

CoreLogic RP Data National Auction Preview, week ending 2 August 2015

AuctionPreview3CoreLogic RP Data is currently tracking a total of 1,944 capital city auctions this week which are lower in comparison to last week when 2,143 homes were taken to auction across the combined capital cities recording a clearance rate of 74.7 per cent. Last week marks the lowest clearance rate across the combined capital cities since early March.

There are 793 Melbourne auctions scheduled this week compared to 918 last week, and 636 at the same time last year. Based on the final auction results, the city recorded a clearance rate of 75.7 per cent last week having decreased slightly from 76.0 per cent the previous week and signifying the third week in a row where the clearance rate across the city has fallen.

CoreLogic RP Data is tracking 865 Sydney auctions this week with last week’s results showing a 79.9 per cent clearance rate after 906 homes were taken to auction over the week. Last week signifies the third week in a row where Sydney’s auction clearance rate has been below 80 per cent. Leading up to this, Sydney’s clearance rate was above the 80 per cent mark for a total of 22 weeks and at one point, this was as high as 89.7 per cent (across just 285 auctions over the last week in April). Twelve months ago, there were 588 homes taken to auction across the city with 76.7 per cent recording a successful result.

There are 133 auctions scheduled to take place across Brisbane this week compared to 163 last week and 96 at the same time last year. After recording a strong preliminary clearance rate last week, Brisbane’s final auction clearance rate fell to 54.0 per cent across 137 results which still indicates a strong week for auctions across Brisbane.

In Adelaide, the number of homes taken to auction this week is 80; the same number as last week. Twelve months ago over the corresponding week, there were 95 auctions across the city. Adelaide’s final auction clearance rate last week was 58.9 per cent.

Across Canberra, CoreLogic RP Data is expecting 43 auctions this week, slightly lower than last week (49) and higher than one year ago, when 28 Canberra homes were taken to auction.

There are currently 20 Perth auctions scheduled this week compared to  21 last week and 20 one year ago.

This week, there are four suburbs across Australia which will host 12 auctions. This is the highest number of auctions across any individual Australian suburb and includes Ashfield (NSW) and Bentleigh East, Glen Waverley and Mount Waverley in Victoria.

About Shana Miller

Shana joined CoreLogic RP Data in 2007, heading up CoreLogic RP Data’s 'agents advice' team which is responsible for collecting sales data directly from industry participants. Having gained a solid background in data collection, storage and reporting, Shana joined CoreLogic RP Data’s research team as an analyst in 2011. Shana's day to day activities include compiling CoreLogic RP Data’s regular analysis such as auction and private treaty metrics as well as reporting on housing markets at a local through to national level. Shana has now joined the CoreLogic RP Data commentating team to deliver weekly blog updates on housing market activity across the country.

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