This week’s property market trends- RPData

A preliminary auction clearance rate* of 65.4 per cent was recorded this week across capital cities compared to 65.0 per cent last week and 67.3 per cent this time last year.

The auction clearance rate has maintained a stable performance despite a 42 per cent rise in the number of properties taken to auction this week and concerns the federal budget may have a negative impact on buyer demand.

Capital City auction results: 19 May 2014In the Sydney market a weaker preliminary clearance rate of 70.9 per cent was recorded compared to 73.3 per cent last week highlighting improving conditions for buyers.

Sydney auction results: 19 May 2014In Melbourne a preliminary clearance rate of 64.5 per cent was recorded compared to 61.9 per cent last week.

Auction numbers rose steeply this week and it is significant that the clearance rate didn’t drop below the lows of the last fortnight.

Melbourne auction results: 19 May 2014In Brisbane a preliminary clearance rate of  49.5 per cent was recorded compared to 46.7 per cent last week.

Adelaide recorded a clearance rate of 65.5 per cent compared to 62.3 per cent last week. In Canberra a clearance rate of 52.6 per cent was recorded and in Perth there were 8 auction sales from 17 results. In Tasmania there was 2 sales from 5 results.

Brisbane auction results: 19 May 2014Brisbane

Adelaide auction results: 19 May 2014[post_ender]



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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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