Reported auction clearance rates in Australia’s two biggest markets were strong again over the weekend.
In Australia’s biggest auction market – Melbourne – the preliminary clearance rate was 76% on 832 auctions reported to the REIV, although 105 auctions listed as “no result”, meaning there will likely be some downward revision once late results are chased-up (see below table).
The weekend’s result for Melbourne was up on the 74% preliminary clearance rate reported last weekend on 441 auctions, which was later revised down to a final clearance rate of 73% on 471 auctions. It was also well above the 61% clearance rate on 660 auctions recorded on the same weekend of last year.
By way of comparison, RP Data’s auction results for Melbourne were slightly worse, with 74% of auctions clearing on 974 reported auctions (i.e. a bigger sample than the REIV).
Sydney’s preliminary auction clearance rates were again very strong. Clearance rates were reported as:
- 84.3% by RP Data versus 85.2% last weekend;
- 84% by APM versus 88% last weekend; and
- 74% by Residex versus 82% last weekend.
Auction results for the other capitals are shown below, via RP data:
