The national auction clearance rate was steady over the weekend, with both Sydney and Melbourne clearances also largely unchanged from the weekend prior.
According to RP Data, the weighted average preliminary auction clearance rate was 66.6%, which was identical to the weekend before. Sydney’s clearance rate rose by 0.2% to 71.9%, whereas Melbourne’s fell slightly to 69.1% (last weekend 69.6%), and Brisbane’s clearance rate fell to 38.1% from 44.7% the weekend before. Overall auction volumes (2,041) were also down marginally on last weekend’s 2,098, but remain at a fairly high level for this time of year.
The trend in the national clearance rate continues to consolidate from the very strong levels recorded in the second half of last year and the first quarter of 2014, although it remains well above the levels recorded during the 2011 and 2012 housing bear market:
As usual, the other data providers produced better results but on smaller samples.
The Real Estate Institute of Victoria (REIV) reported a preliminary clearance rate of 72% on 708 reported auctions. Whereas for Sydney, APM reported a preliminary clearance rate of 75% on just 429 reported auctions.
