Reported auction clearance rates in Australia’s two biggest markets strengthened over the weekend.
In Australia’s biggest auction market – Melbourne – the preliminary clearance rate was 72% on 925 auctions reported to the REIV, with 141 auctions listed as “no result”, which could result in some small downward revision once late results are chased-up (see below table).
The reported clearance rate was up on the 70% rate recorded last weekend on 155 auctions, which was later revised down to a 67% clearance rate on 189 auctions, once the missing results were chased-up. The weekend’s result also compares favourably to the 59% clearance rate recorded in the same weekend of last year.
By way of comparison, RP Data’s auction results for Melbourne were worse, with a clearance rate of 69% recorded on 1,122 reported auctions (i.e. a bigger sample than the REIV).
Sydney’s preliminary auction clearance rates also strengthened. Clearance rates were reported as:
- 78.6% by RP Data versus 76.8% last weekend;
- 84% by APM versus 81% last weekend; and
- 73% by Residex versus 71% last weekend.
Auction results for the other capitals are provided below via RP Data:
