From RP Data:
Final week of auctions for 2015 sees preliminary auction clearance rate recorded at 60.5 per cent. After clearance rates peaked at 82.3% over the Easter weekend in April this year and remained in the high 70’s for the following six weeks,CoreLogic RP Data’s preliminary auction clearance across the combined capital cities was recorded at 60.5 per cent this week, a slight increase from the previous week’s final auction clearance rate of 58.2 per cent, but coming in lower than the clearance rate recorded one year ago (63.6 per cent). Auction volumes remained relatively high over the last auction week of this year, when compared to last year, with 1,808 homes taken to auction this week, compared to 1,702 last year, but far less that over the previous week when 2,989 auctions were held. Overall, the final three months of the year saw 33,594
auctions held, compared to 34,016 a year ago, and with housing market conditions cooling, the proportion of successful auctions has consistently tracked lower than a year ago since late October which is likely to set the scene for more sedate auction conditions as the auction market winds up in late January.
Melbourne’s auction clearance rate remained relatively strong this week, with 66.7 per cent of the reported auctions sold up from 64.9 per cent last week and 61.5 per cent one year ago. This week, Melbourne was host to a total of 882residential auctions, down from 1,572 last week and higher than one year ago(639). Activity across the city this week brings the total number of auctions heldacross the city for 2015 7.6 per cent higher than 2014. To finish of the year,Melbourne’s best performing sub-regions for clearancerates were the Inner Southregion at 80.7 per cent across 57 auction results and Melbourne’s West at 73.2per cent across a total of 112 reported auctions.
Far from the heights recorded at the start of the year, Sydney’s last preliminaryauction clearance rate for the year was recorded at 60.3 per cent, higher than lastweek (54.7 per cent) but substantially lower than at the 74.5 per cent recorded over the final week of 2014. After a record breaking year, where Sydney’s auctionclearance rate was recorded above the 80 per cent for 22 consecutive weeks, themarket has begun to moderate and has now retracted back to 2012-13 levels. Despite the lower clearance rate, there are still pockets across Sydney whereauction performance is strong. This week the Sydney’s City and Inner South region’s clearance rate was 85.3 per cent across 34 results, while Eastern Suburbs (79.2 per cent) and North Sydney and Hornsby (76.7 per cent) both recorded a strong clearance rate, albeit on relatively low auction volumes.
Full report.
