This weekend’s wrap of the auction markets- Tim Lawless

The preliminary auction clearance rate* of 67.4 per cent was recorded this week across capital cities compared to 62.3 per cent last week and 65.6 per cent this time last year.

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Volumes have been lower this week as the market heads into a traditionally quieter time in winter. The higher clearance rate is largely a factor of a stronger Sydney market where a preliminary clearance rate 76.1 per cent was recorded compared to 71.4 per cent last week.

rpdata12 2The higher national clearance rate does not represent a significant shift in the market and is broadly in line with the trend this year, particularly with the results prior to Easter and Anzac Day.

In Melbourne a preliminary clearance rate of 63.4 per cent was recorded compared to 61.9 per cent last week. Last week’s Melbourne clearance rate was the lowest since late 2012 and is running counter to the established trend through the last year and also reflects moderating growth in property values.

rpdata12 3In Brisbane a preliminary clearance rate of 54.8 per cent was recorded compared to 42.4 per cent last week. Adelaide recorded a clearance rate of 60.5 per cent compared to 62.7 per cent last week.

In Canberra a clearance rate of 58.8 per cent was recorded and in Perth there was one auction sale from eight results. In Tasmania there was two sales from three results.

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Tim Lawless

About

Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au


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