Auction clearance rates reached as high as 80% in Sydney, according to one measure. The RP Data weekend market summary recorded a preliminary clearance rate for Sydney of 80.3%. That compared to 78% recorded for Sydney by APM (see table 1 below).

RP Data had Melbourne with a clearance rate of 71.6%, which was similar to APM’s 71.8%. RP Data reported a total number of 1,777 auctions for the weekend in the seven capital cities minus Darwin, and that was up from 1,687 scheduled in the previous week.

The final APM results for the week of 25 May 2013 (see table 2 below) recorded a median value in Sydney of $920,000 for properties sold at auction and a total value of $520 million.

For the same week last year i.e. Saturday 2 June 2012 (see table 3), the auction clearance rate in Sydney was just 54.7% and slightly higher in Melbourne at 56.6%, according to APM.

Country average

RP Data also compiles a weighted average index of the seven capital cities it collects data for. This recorded a preliminary value of 70.4% for Saturday and as the chart below shows, has been increasing steadily since December last year. Weighted average data reveals a total of 1,019 cleared auctions across the capital cities, and 426 uncleared auctions on the weekend

Private treaty

Capital city private treaty median prices recorded over the past four weeks for all eight capital cities by RP Data reveal a median price of $605,000 for Sydney, $455,000 for Melbourne and $501,000. But the highest median price was recorded in Darwin where it was $620,000.

RP Data points out that around 85% of sales across the country are sold via private treaty.

Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regards to your circumstances.

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