Auction Wrap Up – 4 June 2016
June started strongly, with 1,633 listings across the main auction markets. Despite falling short of last weekend’s result, the national figure remained above the 12-month rolling average for the third consecutive week.
Saturday had 1,181 reported sales and a preliminary clearance rate of 74.6 per cent.
The coming weekend is expected to be slow, as the largest markets of Melbourne and Sydney take a break for the Queen’s Birthday long weekend.
Sydney crossed the 80 per cent clearance rate for the second time this year, with 80.1 per cent of stock selling before auction or under the hammer. The revised figure is likely to close in the mid-70s, an unseasonably high result for a June weekend.
Sydney’s auction listings fell by nine per cent from last week, resulting in 548 listings and 377 reported sales. This week’s 30 per cent drop in listings compared to the corresponding weekend in 2015 was in line with the 20 to 30 per cent year on year decline we have seen so far this year.
The city recorded a solid result for on the first weekend of the month with 841 properties listed. Despite falling short of last week’s 1,000 plus figure, numbers stacked well against the 12-month moving average of 775 listings per Saturday.
Melbourne’s auction clearance rate continued to hover in the mid-70s, closing at a preliminary 74.4 per cent on Saturday. Despite falling short of last week’s 75.2 per cent, the result is considered above trend.
Listing numbers will ease in the coming Saturday as Victorians enjoy the long weekend. The third weekend of the month, however, is set to be the busiest June weekend on record, with 942 properties listed for sale.
* Saturday’s auction clearance rates are preliminary.
Buy Auction Data Series
Based on 55 reported auction results out of 111 listed auctions.
Based on 377 reported auction results out of 548 listed auctions.
Based on 668 reported auction results out of 841 listed auctions.
Based on 27 reported auction results out of 70 listed auctions.
Week ending 4th June 2016
There were 111 Auctions in Brisbane this weekend.
There were 548 Auctions in Sydney this weekend.
There were 841 Auctions in Melbourne this weekend.
There were 70 Auctions in Adelaide this weekend.