CoreLogic RP Data Auction Market Preview for week ending 20 December

Upcoming auctions: This week signals the beginning of the end of year auction slow down, with auction volumes falling over the week from 2,989 last week to 1,727 this week. Auction volumes are relatively similar to one year ago, when 1,702 capital city auctions were held. The number of auctions held this week will be lower in all capital city markets except for Perth, where auction volumes remain virtually unchanged from last week. Melbourne will host 872 auctions this week, down from 1,572 last week, while one year ago just 639 auctions were held across the city. CoreLogic RP Data is currently tracking 457 Sydney auctions, compared to 891 last week and 648 over the same week one year ago. This year has been the busiest year for auctions on record, with auction volumes expected to come in just over 108,500 for the year. To put this into perspective, there were 104,444 capital city auctions held in 2014, 81,473 in 2013 and just 62,713 in 2012.

Capital City Auctions this week:

  • Sydney: 470
  • Melbourne: 872
  • Brisbane: 186
  • Adelaide: 118
  • Perth: 66
  • Canberra: 99

The busiest individual suburbs for auctions across Australia this week are all located in Melbourne. There are 19 auctions scheduled in Craigieburn, 17 in Reservoir and 16 in Mill Park.

Summary of last week’s results:

The combined capital city clearance rate remained below the 60 per cent mark last week, with the final results showing 58.2 per cent of the 2,722 reported auction results sold at auction.

20151217 capital city graph

20151217 auction table

Both Sydney and Melbourne, Australia’s two largest auction markets saw clearance rates improve marginally last week, up from 63.3 per cent the previous week to 64.9 per cent last week in Melbourne and Sydney’s clearance rate rose from 52.9 per cent to 54.7 per cent last week.

Adelaide, with a clearance rate of 49.3 per cent and Canberra (48.6 per cent) both recorded their lowest clearance rate for the year last week, while Perth’s clearance rate has remained virtually unchanged over the past three weeks.

Brisbane’s final auction clearance rate was 41.9 per cent last week, similar to the 41.5 per cent recorded across the Gold Coast.

20151217 sub regions

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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