Auctions Wrap – 2nd May 2015

May 6, 2015/ Pricefinder / Auction Results

“Markets return to strength with Saturday’s figures showing a significant bounce in the number of listings”

Highlights

• Sydney recorded its highest ever clearance rate at 1 per cent, with Melbourne also closing above 80 per cent.
• The number of auction listings in April was half of that of March, as a result for slow Easter and ANZAC Day Saturdays.
• At 30 per cent, Sydney’s rate of properties selling prior to auction was twice that of Melbourne.

Markets return to strength

Saturday’s figures showed a significant bounce in the number of listings. Nationally 2,038 properties were listed for auction, a significant increase from last Saturday’s 156 listings and a 24 per cent increase from the first May Saturday in 2014. Melbourne recorded 987 auction listings and Sydney reported 699.

Auction clearance rates remained very high, with Sydney reporting a record clearance rate of 89.1 per cent against Melbourne’s 82.1 per cent. While these figures are likely to be revised down once all results are in, a clearance rate above 80 per cent is a strong testament to the strength of these two markets.