Auction numbers for the coming weekend

Auction numbers for the coming weekend

Posted on Friday, May 15 2015 at 3:06 PM

According to CoreLogic RP Data there are just 1934 auctions scheduled across the nation’s capital cities this week, down from the 2426 held last week, when for the fourth week in a row, the combined capital city clearance rate was recorded above 78 per cent, at 78.2 per cent.

One year ago, over the comparable week, there
were 2194 homes taken to auction, which is higher than the current scheduled
number, though it’s likely that this will revise upwards as additional auction
results are reported over the weekend.

In Melbourne, 903 auctions are expected this
week, lower than the 1072 last week, when 79 per cent of reported auctions
sold. So far this year, Melbourne’s clearance rate has been trending higher,
with the rise likely to be attributed to growing consumer confidence borne
through recent interest rate cuts.

Sydney’s auction market is currently
performing at record levels. So far this year, it’s estimated that of the
12,074 homes taken to auction there have been 10,227 sales, which equates to
more than eight in every 10 properties taken to auction recording a successful
result. This week, it’s expected that 720 residential properties across Sydney
will be taken to auction, less than the 955 last week and also lower than the
796 at the same time last year.

There are 119 Brisbane homes set for auction
this week, lower than both last week (176) and last year (133). Brisbane’s
final auction clearance rate was recorded at 54.5 per cent last week,
strengthening from 47.3 per cent the previous week.

There are expected to be 101 residential
auctions across Adelaide this week, up from 92 last week, when the final
auction clearance rate was recorded at 59.5 per cent. One year ago, 121
auctions were held.

In Canberra, 43 auctions are scheduled for
this week, after 78 last week and 29 one year ago. Last week, Canbeeet rra’s
final auction clearance rate was 65.7 per cent.

Perth is expecting 35 auctions this week, which
is a similar number to a year ago, when there were 39 auctions. Last week,
there were 42 Perth auction results and the clearance rate was low – 21.4 per
cent – the second week in a row in which Perth’s clearance rate was recorded
below the 30 per cent mark.

There will be 15 auctions held in Reservoir
(Vic) and Preston (Vic) this week, both of which have the highest volume of
auctions for any individual Australian suburb.

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