Auctions Wrap – 23rd May 2015

May 25, 2015/ Pricefinder / Auction Results

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

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.