This week the preliminary auction clearance rate came in at 68.1% across capital cities, compared to 65.4% last week.
Weekly clearance rate – combined capital cities
According to RP Data, based on auctions conducted during the first half of 2014, auction volumes have risen by 38% since 2013. This significant increase in numbers suggests the market is fairing well, and delivering results for both buyers and sellers.
Sydney unsurprisingly remains the city in highest demand, with the highest rates of sale at auction for the week. The preliminary clearance rate for Sydney came in at 73.2%, compared to 70.1% last week.
Capital city auction statistics (preliminary)
Melbourne’s auction rates are still trending positively, as they have been for the last few weeks, with a preliminary clearance rate of 69.3% – just slightly higher than last weeks 69.1%.
RP Data also recorded median prices for house sales during the week. As always, Sydney takes the cake – its median house price came in at $720,000 after 2,400 sales were made. In Melbourne, the median house price totalled $514,250 after 2,060 sales.
Capital city private treaty median prices
Sydney is also the market where both house and units remain in highest demand. Across the week, the average time on market was just 28 days for homes, and 27 days for units. Melbourne’s average time on market for houses was 35 days, and for units – 39 days.
Capital city average time on market and vendor discounting results
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