Ensure you never miss an issue of the
real estate business bulletin
Solid auction clearance rates across capitals

Solid auction clearance rates across capitals

by Reporter 0 comments

Staff Reporter

Auction clearance rates remained above the 50 per cent mark in Sydney and Melbourne on Saturday, according to data from Australian Property Monitors (APM) and the various state real estate institutes.

Melbourne’s clearance rate edged above the 50 per cent mark based on 181 reported auctions, down from 55.6 per cent the week before, according to APM.

The Real Estate Institute of Victoria (REIV) reported a higher clearance rate of 56 per cent for the weekend, based on 544 reported auctions.

“Next weekend marks the end of the first half of the year and the year to date clearance rate is 61 per cent compared to 63 per cent this time last year, and 82 per cent in 2010,” said Enzo Raimondo, REIV CEO.

“Next weekend the REIV expects around 500 auctions.”

Sydney’s clearance rate remained at 56 per cent, the same as the previous Saturday, based on 241 reported auctions.

According to data from the Real Estate Institute of NSW (REINSW), auction clearance rates for the week to Saturday 23 June hit 60 per cent based on 459 auctions.

“Clearance rates in recent months have remained around the 60 per cent mark, with just one of the previous 12 weeks seeing a clearance rate below 59 per cent,” said Real Estate Institute of NSW CEO, Tim McKibbin.

“This is a modest improvement on the same time last year, where six weeks recorded clearance rates of 56 per cent or lower.”

In Adelaide, APM recorded an auction clearance rate of 37 per cent for Saturday, based on 25 reported auctions. Propertydata.com.au recorded a higher clearance rate for South Australia (47 per cent) for the week to Sunday June 24, based on 38 reported auctions.

In Brisbane, APM said the clearance rate for Saturday was 38.5 per cent based on 24 reported auctions.

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
Solid auction clearance rates across capitals
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?