The national auction clearance rate slipped to 67.7% across capital cities, from the 68.5% recorded last week. But that was still higher than the 65.4% recorded this time last year.
Source: RPData
The lower numbers disguise the big increase in auction volumes over the past 12 months. RP Data reports that so far this year there have been 85,108 auctions, compared to 66,908 at the same time last year – a 21.7% increase.
Sydney recorded a clearance rate of 74.3% on the weekend compared to 73.1% last week, as Melbourne fell slightly to 64.9% from 65.1% last year. Melbourne’s drop was partly due to high volume as RP Data recorded 1112 auction results.
Source: RPData
While Sydney and Melbourne have been powering along for months, Brisbane, which statistically has a lower number of properties sold at auction, is also gradually improving. Its clearance rate was 52.2% on the weekend compared to 45.8% last week. It only had 92 auction results but over 1,338 houses have been sold in the Queensland capital by private treaty over the past four weeks.
Source: RPData
“Brisbane is showing the best fundamentals at the moment,” RP Data’s Tim Lawless said on Friday.
Brisbane also recorded an auction price of $2.5 million over the weekend in New Farm for a six-bedroom house, according to APM.
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- Peter Switzer – Ignore the positive vibes at your peril
- James Dunn – What to buy in 2015
- Rudi Filapek-Vandyck – Buy, sell, hold – what the brokers say
- Penny Pryor – Shortlisted – Medibank, Woolworths and ANZ
- Staff Reporter – Auction numbers hit high – Brisbane shines
