Auction clearance rates lifting as 2015 figures sprint away from past
2015-06-16ALL signs seem to be pointing to 2015 being a bumper year for auctions, as capital city clearance rates sprint away from last year’s figures.
There were 381 more auctions across capital cities this week compared to last (1,582 versus 1,201).
“In comparison, over the same week last year, there were 2,108 auctions held and the clearance rate was 65.5 per cent,” according CoreLogic analyst Shana Miller.
“Since the third week of February, the combined capital city auction clearance rate has consistently been recorded at a higher level than at the same time last year, with the gap becoming increasingly significant.”
Brisbane has begun to regularly see over half the homes that go to auction sell, with the past week’s preliminary clearance rate at 51.2 per cent compared to 43.5 per cent last year.
There were 17,967 properties listed for sale in Brisbane overall, with 3,968 new listings in the past 28 days. Brisbane was also not averse to a nationwide fall in properties for sale - down -3.2 per cent over the year, though way below the national drop of -8.6 per cent. Sydney had the worst drop in supply - falling -25.3 per cent over 12 months, followed by Perth (-13.5 per cent) and Melbourne (-13.4 per cent).
The Gold Coast saw its clearance rate in the past week go to 44.4 per cent, but Sydney was still the biggest influence on national figures, with its clearance rate sitting at 86.5 per cent off 796 auctions.
“Sydney’s auction clearance rate has been above the 85 per cent mark since the third week in April this year,” according to Ms Miller.
Melbourne was also strong with tentative data showing a 78 per cent clearance rate after 80.3 per cent the previous week, and 69.2 per cent over the same time last year.
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