Auction market remains strong but colder weather sees fewer listings

The auction market remains strong however has dropped slightly this week with 1,507 auctions scheduled across the capital cities, according to RP Data.

As we enter further into the colder months, scheduled auction volumes are dropping off with a revised figure of 1,626 auctions last week, down from a revised figure of 1,773 the previous week.

However the clearance rate increased from 63.3% the previous week to 67% last week.

At the same time last year the clearance rate was substantially lower at 51.7% and auction volumes were also lower at 1,332.

The clearance rate in Melbourne increased last week to 69.3% from 67.2% the previous week.

However auction volumes were slightly lower, with a revised figure of 807 auctions last week, down from 868 auctions the previous week.

Melbourne has 694 auctions scheduled this week.

Sydney also has fewer auctions scheduled this week with 567.

Sydney held a revised figure of 582 auctions last week, up slightly from the previous week of 575 auctions.

Sydney’s clearance rate decreased last week to 72.5%, down from 73.6% the previous week.