National auction market continues to strengthen

After a busy weekend of auctions the auction markets continue to strengthen.

A preliminary weighted average clearance rate of 70.7 per cent was recorded this week across capital cities compared to 67.2 per cent last week and 64.1 per cent this time last year.

Low winter volumes are a factor as the clearance rate recorded its sixth consecutive increase. A preliminary clearance rate of 76.9 per cent was recorded in Sydney compared to 75.6 per cent last week.

A clear improvement was seen in Melbourne compared to last week, with a preliminary clearance rate of 69.6 per cent recorded compared to 66.4 per cent last week.

In Brisbane a preliminary clearance rate of 54.1 per cent was recorded compared to 43.3 per cent last week. Adelaide recorded a clearance rate of 72.7 per cent compared to 60.9 per cent last week.

In Canberra a clearance rate of 71 per cent was recorded and in Perth there was a clearance rate of 30 per cent.

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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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