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    Scheduled auctions in Sydney exceed Melbourne

    RP Data

    According to the RP Data National Auction Preview for the week ending 29 June, 2014, a significant rise has been observed in the number of scheduled auctions in Sydney. Barring a few weeks impacted by public holidays or very low volumes, this is also the first time Sydney has overtaken Melbourne for the year.

    RP Data auction spokesperson Robert Larocca reports that 2,169 auctions are scheduled across Australia this week across 1,137 different suburbs or towns. In capital cities there are 1,769 auctions expected compared to 1,572 in the same period last year.

    Sydney’s scheduled auctions are the highlight of the week’s statistics with 758 auctions expected compared to 785 last week. Significantly, this is 27.6 per cent more than last year.

    Melbourne has 728 auctions scheduled for this week compared to 946 last week. The Melbourne auction market appears to be improving with the clearance rate close to 70 per cent in the last fortnight.

    Figures for other cities include Brisbane with 132 expected auctions following 141 last week; Adelaide with 72 expected auctions compared to 74 last week; Canberra with 33 scheduled auctions compared to 35 last week; Perth with 36 auctions compared to 45 last week; and 10 auctions in Tasmania. 

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