Auction volumes projected to reach a high in late October: RP Data's national auction wrap

Auction volumes projected to reach a high in late October: RP Data's national auction wrap
Robert LaroccaDecember 17, 2020

A preliminary weighted average clearance rate of 68.7% was recorded this week across capital cities compared to 66.9% last week and 72.5% this time last year.

Volumes are rising and are projected to reach a high in the last week of October in what will be a test for the market.

Source: RP Data

Source: RP Data

In Sydney a preliminary clearance rate of 75.8% was recorded compared to 76.4% last week. It is interesting to note that there have been 43% more auctions this year than was the case last year, remarkably the clearance rate has not been affected.

In Melbourne there was a preliminary clearance rate of 67.2% recorded compared to 69.1% last week and 74% this time last year. This was the 15th week with in excess of 1,000 auctions.

In Brisbane a preliminary clearance rate of 54.2% was recorded compared to 47.4% last week.

Adelaide recorded a clearance rate of 58.7% compared to 53.7% last week.

In Canberra a clearance rate of 56.4% was recorded.

In Perth a clearance rate of 33.3% was recorded.

Robert Larocca

Robert Larocca is Victorian housing market specialist for CoreLogic RP Data.

Editor's Picks

Final release at Capri Villas as construction speeds toward mid-2025 completion
The story behind ALAND, one of Sydney’s most prolific apartment developers
Golden Age welcomes buyers to first stage of Floret, Glen Waverley townhouses
‘Automatic’ approvals to deliver townhouse revolution across Melbourne
West Village final stage revealed as Callista on Park launches to the market