Market activity remains buoyant despite the overall ease in market activity with the approaching festive season, according to RP data.
RP data’s weekly leading indicator of market activity eased slightly over the last week, with the fall in the index possibly the first sign of the impending Christmas / New Year period slowdown.
However, last week was also one of the busiest of the year in terms of auctions, with 1,672 held nationally.
Sydney and Melbourne performed well with auction clearance rates of 70.8 per cent and 80.7 per cent respectively.
It was the first time in three weeks Melbourne’s auction clearance rate had been above 80 per cent, according to RP data.