Auctions Wrap – 16th May 2015

May 18, 2015/ Pricefinder / Auction Results

“Listing numbers fall below last year’s as the winter chill sets in”

Weekly Overview

In a slower Saturday than the previous week the nation saw 1,637 listed for auction but remained above the long term May average of 1,420 listings per Saturday. It resulted in a 78 per cent clearance rate, representing a significant improvement from the same Saturday last year when only 63.6 per cent of auctions were sold prior to or at the auction.

Sydney reported an 84.4 clearance rate, with 556 listed auctions; Melbourne’s 834 listings yielded an 80.2 per cent clearance against the previous Saturday’s 77 per cent, firming the notion of a booming market.

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Weekly Overview

National auction listing figures broke through the 2,000 mark once again, but came short of last year’s numbers. Listing numbers were higher than last year’s figures for the first two Saturdays in May, but lower for the two most recent weekends. The year-on-year decline was consistent across all major auction markets, with the exception of Canberra. Of the 2,076 properties listed for auction last Saturday, 82 per cent were in the country’s two major capital cities.

Auction clearance rates remained above 80 per cent, suggesting that markets are not yet giving in to the winter chill. Sydney reported an 84.2 per cent clearance rate and Melbourne recorded an 83.3 per cent rate, compare to the low 70’s figures recorded this time last year.