Auction market hopes to improve on lowest clearance rate since January

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Auction volumes across Australia’s capital cities have rebounded somewhat this week according to figures from CoreLogic RP Data.

Figures show there are 1,822 auctions scheduled across the country this week, up by more than 100 on last week’s 1,704.

Vendors will be hoping the increased stock will attract more buyers this week after last week’s clearance rate of 74.9% was the lowest since the first week of March (74.5%).

Sydney is again the biggest auction market this week as numbers hold relatively steady, with 795 homes to go under the hammer this week, only slightly up on the 791 last week.

The harbour city will be hoping it can turn around its clearance rate this week after lasts week final rate of 78.8% was the first time below 80% since the final week of January.

Melbourne has seen a solid bounce in its volumes over the past week, with 759 auctions scheduled for the Victorian capital this week compared to the 655 last week.

With 13 auctions scheduled, Melbourne’s Mount Waverley will be the busiest suburb this week, followed by its Melbourne neighbour South Yarra and Sydney’s Randwick, both of which have 12.

Adelaide has also seen a slight jump in volumes, with 79 auctions set down for this week compared to the 69 held last week, while Canberra has 45 auctions scheduled compared to the 31 last week.

Brisbane has seen its volumes fall from 123 last week to 112 this week, while Perth’s numbers are down 26 to 22 over the week.

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  • Auctions SUCK says on 17/07/2015 07:11:23 PM

    Who Cares. Auctions are a rigged game! Dummy Bidders; Under-Quoting by agents; Auctioneers rejecting starting bids and pushing bids up higher; Agents whispering in the ear of in-experienced bidders; The seller potentially losing out by being set-up by the agents.

    Its UNCONSCIONABLE CONDUCT. No other word to describe it!

    Auctions are so Yesterday. Put a price on your property that your happy with. Simple. Agents dont need to be paid that much when you do that, Auctioneers dont get a slice of your money as well!

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