CoreLogic RP Data National Auction Preview, week ending 27 March 2016

Upcoming auctions:

Given the upcoming Easter long weekend, auction volumes are much lower this week with only 522 capital city auctions scheduled; a much lower number than last week when 3,540 were held across the capital city auction markets in the lead up to the seasonal slow-down. Sydney is the city where the majority of auctions will be held this week, accounting for 65 per cent of capital city auction activity (340 auctions), while in Melbourne only 71 auctions will be held. In the remaining cities, less than 40 auctions are being held. This is a similar trend to what was seen over the Easter long weekend last year when Sydney auctions accounted for 65 per cent of auction activity, with 427 Sydney auctions held and just 226 across the remaining capital cities.

Capital City Auctions this week:

  • Sydney: 340
  • Melbourne: 71
  • Brisbane: 39
  • Adelaide: 33
  • Perth: 4
  • Canberra: 25

This week, given Sydney’s auction volumes have remained higher than all other capital city markets, the busiest individual suburbs for auctions are all located within the city. Mosman (10), Randwick (9), Bondi Junction (8) and Darlinghurst (8) will host the highest volume of auctions.

Summary of last week’s results:

20160324 CC table

On the back of a high volume of auctions last week (3,540), the combined capital city market regained some strength, with a final auction clearance rate bouncing up to 68.8 per cent, having been recorded at 64.9 per cent over the previous week.

20160324 CC graph

Both Sydney and Melbourne saw clearance rates recorded above the 70 per cent mark last week, at 71.8 per cent and 72.1 per cent respectively. In both cities, the volume of auctions was the highest seen since the final week in November last year.

In Sydney, the North Sydney and Hornsby sub-region had the highest volume of auctions (184) and the second highest clearance rate (82.1 per cent), following on from Blacktown where the clearance rate was 84.6 per cent across just 13 auction results.

Melbourne’s strongest performing sub-region was Inner Melbourne with almost 400 auctions held and almost four out of every five auctions successful (78 per cent).

20160324 Sub-region table

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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