Busy property auction week ahead: RP Data

For the week ending November 11, 2012, the combined capital cities clearance rate was recorded at 53.2%, a slight increase from the previous week’s clearance rate of 53%. Over the past week, there were 1,891 auctions held across the capital cities, which is higher compared with the previous week. At the same time the one year ago, there were just over 1,900 auctions held across the capitals. The clearance rate over the past week was much higher than one year ago, when the clearance rate was recorded at 48%.

The clearance rate in Melbourne, which is Australia’s largest auction market, was recorded at 57.6% over the last week, a decrease from the previous week’s clearance rate of 58.5%. There were 819 auctions held in Melbourne over the past week. Next week, there are 1,031 upcoming auctions scheduled across Melbourne. In Sydney, auction clearance rates decreased to 55.8% last week from 57.7% the previous week.

Over the coming week, there are 2,081 auctions scheduled across the capital cities, which will be a busy auction week.

Source: RP Data