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    Australian auction market takes a breather for the long weekend

    RP Data

    The RP Data National Auction Preview reveals that there are 1,425 auctions scheduled across Australia for the week ending 8 June, 2014 with 1,073 expected in capital cities.

    Volumes remain higher than this time last year at 38%; however, these are lower than last week due to the long weekend in most parts of Australia.

    After the record number of auctions in the first five months of the year, Sydney continues as the strongest auction market.

    Highlights of the RP Data National Auction Preview

    Sydney

    There are 532 auctions expected compared to 1,316 last week. Sydney’s year to date clearance rate is 75.6 per cent from 15,187 auctions, well up on the 68 per cent from 9,260 this time last year.

    Melbourne

    There are 303 auctions scheduled compared to 1,356 last week. Melbourne has a year to date clearance rate of 67.5 per cent and the market has cooled after the high of 76.6 per cent in early March.

    Brisbane

    There are 84 expected auctions following the 219 of last week.

    Adelaide

    There are 70 expected auctions compared to 87 last week.

    Canberra

    There are 41 scheduled auctions compared to 48 last week.

    Perth

    There are 33 auctions, higher than last week’s 30.

    Tasmania

    There are 24 auctions scheduled for the week.  

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