Auction Wrap Up – 30 April 2016
April’s busiest weekend recorded 2,230 listings across the capital cities, equating to the second highest listing number this year behind the pre-Easter super Saturday.
The nation cleared 73.2 per cent of stock, compared to last week’s 70.5 per cent, but substantially lower than the 79.8 per cent recorded for the corresponding weekend in 2015.
Volumes are expected to decline this coming Saturday, with 1,601 listings currently advertised across the nation. As weekend volumes drop in May, the clearance rate is likely to hover around 70 per cent.
Melbourne experienced a strong weekend with 1,261 properties listed for auctions, compared to only 974 for the corresponding 2015 weekend.
The city’s 75 per cent Saturday clearance rate is considered a strong figure given the high number of listings; the highest since mid-March.
Auction numbers in the nation’s busiest auction market will decline in the coming Saturday, with a current estimate of 875 listings.
Melbourne set a new monthly record in April, with 3,697 listings. The number more than doubled that of April 2015 and was almost 1,000 listings higher than the previous record set in 2014.
Sydney finished the month strongly, as 672 properties were listed for auction on Saturday, compared to an average of 493 auctions per Saturday for the month. The result was the highest in April and second highest for the year.
On the weekend the Harbour city cleared 73.8 per cent of stock which, upon revision, is likely to remain above 70 per cent, overtaking last Saturday’s 68.6 per cent.
April was the first time this year where monthly listing numbers overtook last year’s figures. This was the result of a fifth Saturday in the month, and ANZAC day falling on a Monday (not on a Saturday like last year). A total of 2,906 listings were recorded.
The forecast is for a drop in listings for the first weekend in May. Figures are expected to remain steady for the following three weeks, with an average of 492 listings per weekend.
Brisbane finished the month strongly, with 114 properties listed for auction on the weekend. The month’s average of 102 listings per Saturday almost doubled that of April 2015. The difference stemmed from the slow ANZAC day and Easter weekends in April 2015.
The winter blues seems to come late in Brisbane, with listing numbers continuing to rise on the first weekend of May, giving more choice to buyers. Clearance rates are expected to remain volatile in May, but are not likely to fall below 35 per cent.
As a result of the extra Saturday, for the first time in 2016 monthly listing figures were higher than the previous year (by 81 per cent!), with a 33 per cent increase in the number of sold properties. Once Saturdays are removed, however, this figure changed to only six per cent increase in listings and a 34 per cent fall in the number of sold properties.
Canberra auction listings more than doubled from the previous weekend, with 84 listings on Saturday. The clearance rate peaked at 73 per cent in the previous weekend but fell to the lower 60s on Saturday.
Monthly volumes were higher in April 2016 compared to April 2015, but the total numbers for the first half of 2016 are expected to equate the 2015 figures, with lower volumes in May offsetting April’s bumper figures. The capital city recorded 881 auction listings in the year to date, representing a 16 per cent increase from the same time last year.
Auction Clearance Rates
Week ending 30th April 2016View Auction Results Buy Auction Data Series
Based on 51 reported auction results out of 119 listed auctions.
Based on 493 reported auction results out of 672 listed auctions.
Based on 1061 reported auction results out of 1264 listed auctions.
Based on 39 reported auction results out of 90 listed auctions.
Week ending 30th April 2016
There were 119 Auctions in Brisbane this weekend.
There were 672 Auctions in Sydney this weekend.
There were 494 Auctions in Melbourne this weekend.
There were 90 Auctions in Adelaide this weekend.