Auction Wrap Up – 11 April 2016

April 11, 2016/ Pricefinder / Auction Results

National

The nation recorded good auction activity for the second Saturday of April with a National clearance rate of 71.6 per cent, Up 1.1 percentage points from the previous weekend. When comparing to the same weekend in April 2015 the National number of auctions on Saturday listed increased by 130 properties to 1,430, representing a 10 per cent increase in properties listed year on year.  The clearance rate was greater by 6.2 percentage points at 77.8 per cent in April 2015 compared to Saturdays 71.6 per cent.

Melbourne

Melbourne recorded the highest clearance rate of all capital cities on Saturday with 76.3 per cent of properties cleared.  In line with the national increase in clearance rates melbourne did better than the previous week by 6.5 percentage points. The number of properties listed also increased with 702 properties on Saturday compared to 482 properties listed on the previous Saturday. Melbourne also recorded 139 more properties listed on Saturday compared to the second Saturday of April in 2015.

Sydney

Sydney’s auction clearance rate was recorded at 70.3 per cent. This represents a substantial decline when compared to April 2015 which recorded a clearance rate of 83.5 per cent for the same period.

Unlike Melbourne Sydney had a reduction in the number of properties listed compared to the previous week with 523 properties listed on Saturday compared to 538 properties in the previous week.

Note: It is worth noting that a direct weekly comparison to April 2015 is difficult to make as April 2015 had 4 Saturdays compared to 5 in April 2016.

* Saturday’s auction clearance rates are preliminary.