CoreLogic RP Data National Auction Preview, week ending 21 February 2016

Upcoming auctions:

Currently a total of 2,005 capital city auctions are being monitored with 949 accounted for in Melbourne and 668 Sydney auctions scheduled. This suggests that auction volumes are returning to typical levels. Compared to last week, auction activity is busier in all cities with the exception of Perth where 40 auctions are being tracked, compared to 46 last week. In comparison to last year when there were 2,372 capital city auctions over the corresponding week, auction activity is more subdued this year.

Capital City Auctions this week:

  • Sydney: 668
  • Melbourne: 949
  • Brisbane: 160
  • Adelaide: 92
  • Perth: 40
  • Canberra: 90

The three busiest individual suburbs for auctions this week are all located in Melbourne. CoreLogic RP Data is tracking 24 Richmond auctions, and 16 in both Bentleigh and Reservoir.

Summary of last week’s results:

20160219 CC table

The final auction clearance rate across the combined capital cities was 71.8 per cent last week, having increased for the third consecutive week of auction clearance rate reporting for the year.

The number of capital city homes taken to auction last week was 1,400 with 556 auctions held across Melbourne and 513 held across Sydney. The strongest capital city clearance rate last week was in Sydney at 78.1 per cent, followed by Adelaide at 75.0 per cent and Melbourne at 74.4 per cent. Canberra was the only other capital city market where the clearance rate was above the 70 per cent mark, at 71.2 per cent.

20160219 Clearance rate chart

Across the regional markets both Geelong and Wollongong also recorded a clearance rate above the 70 per cent mark at 71.0 per cent and 74.2 per cent respectively.

20160219 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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