There are 1,868 auctions scheduled across Australia this week. In capital cities there are 1,527 auctions expected compared to 1,572 for the same period last year.
Last week we saw the best national clearance rate of 70.8 per cent in 5 months as both Sydney and Melbourne exceeded the 70 per cent mark. This improvement was based on ongoing and solid results in Sydney and more moderate improvements in Melbourne.
- Sydney is expecting 574 auctions compared to 578 last week and 557 for this week last year. The year to date clearance rate is 74.7 per cent from 22,239 auctions compared to 70.2 per cent from 14,604 last year. At the same time five years ago, there were only 11,050 auctions.
- Brisbane is expecting 113 auctions after 98 last week. Overall the auction market this year has improved marginally with a 46.1 per cent clearance rate compared to 40.6 per cent last year. A positive sign is the higher clearance rate which is based on 12.8 per cent more auctions.
- Adelaide is expecting 61 auctions, the same as last week and this time last year.
- Canberra has 45 auctions scheduled compared to 31 last week.
- Perth has 20 auctions compared to 30 last week.
- There are 8 auctions scheduled in Tasmania.