Auction Wrap Up – 14 November 2015

November 17, 2015/ Pricefinder / Auction Results

“November 2015 currently holds the highest average number of listings per Saturday.”

National

November 2015 currently holds the highest average number of listings per Saturday:

Sydney 952

Melbourne 1,274

National cities combined 2,693

The last Saturday of the month is expected to be the first to pass

daily listings across the main auction markets.

Melbourne

The second Saturday of the month recorded above average activity for Melbourne, with clearance rates continuing to hover at the lower end of the 12-month range (69.8 per cent). The number of listed properties increased by 24 per cent from the previous weekend and was 14 per cent above the corresponding weekend in 2014. Currently, the final Saturday of the month has 1,567 listing, accounting for approximately half of the national figure for the day and exceeding by 35 listings the previous record set in October 2014.

Sydney

Sydney’s clearance rates bounced back above 60 per cent after recording a low of 55.1 per cent last weekend, amid a decline in listing numbers. On the same weekend in 2014 the city cleared 68.2 per cent of listings, albeit with a lower number of auctions. The weekend’s number was 65 listings lower than last week’s but 92 listings higher than the corresponding date a year ago. Numbers are expected to again rise above 1,000 listings on the last weekend of the month.

Since May this year, a higher number of listings has, to date, offset the fall in clearance rates, ensuring that more properties are sold each month compared to last year by a margin of 25 per cent or more.

Odi Reuveni / Research Manager / PriceFinder