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 78% on 837 auctions reported to the REIV, although 72 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 76% preliminary clearance rate reported last weekend on 832 auctions, which was later revised down to a final clearance rate of 74% on 916 auctions. It was also well above the 59% clearance rate on 683 auctions recorded on the same weekend of last year.
By way of comparison, RP Data’s auction results for Melbourne were slightly worse, with 77% of auctions clearing on 972 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:
- 88.4% by RP Data versus 84.3% last weekend; and
- 86% by APM versus 84% last weekend.
Residex has yet to report its Sydney auction results for the weekend just gone.
Auction results for the other capitals are shown below, via RP data:
