Reported auction clearance rates bounced back in Melbourne but were flat in Sydney over the weekend.
In Australia’s biggest auction market – Melbourne – the preliminary clearance rate was 70% on 1,251 auctions reported to the REIV, with 243 auctions listed as “no result”, which should result in some downward revision once late results are chased-up (see below table).
The reported clearance rate was up significantly on the 66% rate recorded last weekend on 944 auctions, which was later revised down to a 65% clearance rate on 1,039 auctions once the missing results were chased-up. The weekend’s result also compares favourably to the 61% clearance rate recorded in the same weekend of last year.
By way of comparison, RP Data’s auction results for Melbourne were slightly worse, with a clearance rate of 69% recorded on 1,602 reported auctions (i.e. a bigger sample than the REIV).
Sydney’s preliminary auction clearance rates were essentially flat. Clearance rates were reported as:
- 74.7% by RP Data versus 74.9% last weekend;
- 80% by APM versus 80% last weekend; and
- 72% by Residex versus 73% last weekend.
Auction results for the other capitals are provided below via RP Data:
