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20140309 Sydney

Auction action: a wrap of the weekend auction markets – Week ending 9 March 2014

Public holidays drive down auction volumes, while Sydney’s preliminary auction clearance rate breaks the 80 per cent mark for the third time this year. RP Data recorded a preliminary auction clearance rate of 70.4 per cent this week, with 1,506 auctions held across the capital cities. Auction volumes are down substantially when compared to the […]

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Percentage of first home buyer commitments

Why aren’t dwelling values increasing at the same pace as the last growth cycle?

As the housing market recovery continues in a fairly sedate manner, I thought it would be interesting to compare some of the key housing market metrics that we follow to observe the differences in the current market recovery compared with market conditions back in 2009/10 which was the previous recovery/growth phase post GFC.  The analysis […]

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Clearance rates with volumes

The BIG spring auction test

The housing market across Australia will be put to the test this weekend with one of the biggest auction week’s taking place since December 2010.  There are 2,353 auctions planned to be held this week, with the vast majority scheduled for Saturday, October 27th.  There have only been six other occasions since early 2008 where […]

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Clearance rates cap cities v melb v syd

When is an auction not an auction?

With auction clearance rates consistently tracking between 45% and 50% since April this year it begs the question, why take a property to auction when you have less than a 50% chance of selling via this process? Melbourne, Australia’s largest auction market, has typically shown a slightly higher clearance rate than other cities, however even […]

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Number of auctions

Auction sales becoming less popular

Auction clearance rates across the major capital cities have held fairly steady around the fifty percent mark since late last year.  During the height of the market back in 2009, as many as 80% of auctions were clearing.  That was just before the first interest rate rise was announced, and from that time clearance rates […]

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Acution volumes in Melbourne

Melbourne’s Super Saturday

On a national basis, the number of auctions taking place has remained very buoyant during spring and is above average in all capital cities.  Meanwhile, auction clearance rates have been trending lower since May of this year, it’s no coincidence that nationally, property value growth has begun to also taper since May of this year. […]

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Auction volumes table

Auction market update

RP Data tracks auction results across all capital cities of the country, typically collecting results for between 85% and 90% of all auctions each week. Through our Agent’s Advice team we contact our vast network of agents to compile the most accurate auction figures possible.  With this level of data collection we can confidently comment […]

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Rolling quarterly change

Are interest rates too high?

A whole raft of data has been released this week by the Australian Bureau of Statistics (ABS) and most of it has not been particularly positive.  These figures pose the question, are interest rates too high? Unemployment data released this week showed that whilst unemployment remains at low levels it increased from 5.1% in June […]

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Weighted avg clearance rate

Auction clearance rates are an important lead indicator

It has been suggested that reporting on auction clearance rates is a waste of time: we want to dispel this myth once and for all. Our estimates show that during 2009 about 57,500 capital city properties were auctioned. Over the same period there were about 317,000 house and unit sales across the combined capital cities. […]

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Auction clearance melb v national 600w

Auction market remains strong with Melbourne leading the charge

Australia’s auction market reached a likely crescendo last week when 2,358 auctions were held – the highest volume of auctions since we began collecting data nationally in the middle of 2008.  The national clearance rate remained just above 70 percent highlighting that buyers and sellers are still closely aligned in their expectations of market pricing. […]

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