RP Data | 26 February 2013

Another big auction weekend coming for Melbourne: RP Data

Melbourne is set for a bumper weekend of auctions, with 917 to be held on Saturday - more than double the 445 to be held in Sydney on the same day.

It followed last weekend's first super Saturday for the 2013 selling season in Melbourne.

The combined auction clearance rate across Australian capital cities last week was 65.8% - a significant increase on the previous week's clearance rate of 58.9%.

There were almost 2,000 auctions across the capital city markets last week, up from 1,116 auctions the previous week.

Over the same week last year, there were 1,733 auctions and the clearance rate was much lower at 53.9 per cent. It is expected that there will be 1,943 auctions over the coming week.

In Melbourne last week, the clearance rate was recorded at an exceptionally strong 70.3%, up from 66.0% the previous week. There were 1,065 auctions held in Melbourne over the week.

At the same time last year, the auction clearance rate in Melbourne was recorded at a much lower 60.6%. So far this year, Melbourne’s clearance rate has been recorded above the 63% mark each week.

In Sydney, last week, there were 617 auctions held and the clearance rate was recorded at 68.1%, up from 63.2% the week prior. At the same time last year, there were 609 auctions held across Sydney and the clearance rate was recorded at a much lower 52.6%.

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