Auction clearance rates pick up in lead-up to Christmas and New Year period: RP Data

The combined capital city auction clearance rate was recorded at 51.6% last week, up from 47.1% the previous week. Across the capital cities, there were 2,175 auctions last week, while at the same time last year, there were 2,057 auctions and the clearance rate was recorded at 44.9%.

Melbourne’s auction clearance rate was recorded at a strong 57.8% last week, up from 53% the previous week. There were just fewer than 1,000 auctions across the city over the week, up slightly from 986 the week prior. At the same time last year, Melbourne’s auction clearance rate was recorded at 45.5%. In Sydney, auction volumes were slightly lower last week, when 774 auctions were held across the city, down from 791 the week prior. The clearance rate increased from 45.8% the week prior to 54.4% last week.

It is expected that there will be around 2,100 capital city auctions next week in another busy week prior to the slowdown over the Christmas and New Year period.