2014 a better year for auction clearance rates | Robert Larocca

Despite the market cooling, the overall clearance rates for 2014 have surpassed those of 2013.

A preliminary weighted average clearance rate of 65.2 per cent was recorded this week across capital cities compared to 63.7 per cent last week and 65.1 per cent this time last year.

National Auction Comments | Capital City

The market may have cooled since the start of spring but that won’t prevent the overall clearance rate for 2014 exceeding last year.

In 2013 the capital cities clearance rate was 66.2 per cent and with one week to go this year it is 67.9 per cent.

With the exception of Melbourne and Perth the clearance rate has risen in each capital city.

More people have sold more homes at auction this year.

In Sydney a preliminary clearance rate of 71.2 per cent recorded compared to 66.1 per cent last week and 72.2 per cent last year.

The Sydney auction market has delivered very good outcomes for sellers this year with a higher clearance rate and number of sales.

The clearance rate for 2014 is likely to be close to 74.4 per cent, higher than 72.7 per cent last year.

National Auction Comments | Sydney

In Melbourne a preliminary clearance rate of 65.9 per cent was recorded compared to 66 per cent last week and 64.9 per cent this time last year.

The clearance rate for 2014 is likely to be marginally lower, around 68.5 per cent, than 2013 when it was 69.2 per cent.

National Auction Comments | Melbourne

In Brisbane a preliminary clearance rate of 47.3 per cent was recorded compared to 39.7 per cent last week.

The overall clearance rate in Brisbane for 2014 is likely to be 45.8 per cent, higher than 41.5 per cent last year.

National Auction Comments | Brisbane

In Adelaide a preliminary clearance rate of 57.5 per cent compared to 56.6 per cent last week.

The overall clearance rate for 2014 is likely to be 61.9 per cent, higher than 56.5 per cent last year.

National Auction Comments | Adelaide

In Canberra a clearance rate of 59.5 per cent was recorded.

The overall clearance rate for 2014 is likely to be 55.9 per cent, higher than 52.3 per cent last year.

In Perth a clearance rate of 33.3 per cent was recorded.

The overall clearance rate for 2014 is likely to be 41.1 per cent, lower than 46.5 per cent last year.



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Robert Larocca

About

Robert Larocca is RP Data's Victoria Housing Market Specialist. He has built a profile over the past eight years as an expert on the Victorian residential property market. Visit www.rpdata.com


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