CoreLogic has released its latest market update for May, summarised below.
Currently, there has been a decrease in the volume of auctions in most capital cities in Australia with 2,088 auctions scheduled this week, down from 2,699 last week (-22.6%) and 3,016 this time last year. In Melbourne, there are 879 auctions scheduled, signifying a -31.9% drop from the previous week with 1,290 auctions and -37.7% drop from this time last year with 1,411 auctions. Sydney has 702 auctions in place for this week, which is -23.2% decrease from 914 auctions last week and 1,146 auctions from this time last year.
Smaller capital cities show varying results, with Adelaide securing 214 auctions this week, up from 149 auctions the week prior. Brisbane has been relatively stable with 189 auctions, a small increase from the previous week with 186 auctions. Canberra has 87 auctions in place, down from 143 auctions the week prior. There are 12 auctions planned in Perth and 5 auctions planned in Tasmania.Capital city auction statistics w/e 1 May 2022
Clearance rate and auction results w/e 1 May 2022
Weekly clearance rate w/e 1 May 2022
For more information, visit CoreLogic
Subscribe to the Legal Practice Intelligence fortnightly eBulletin.
Disclaimer: The views and opinions expressed in this article do not necessarily reflect the official policy or position of Novum Learning or Legal Practice Intelligence (LPI). While every attempt has been made to ensure that the information in this article has been obtained from reliable sources, neither Novum Learning or LPI nor the author is responsible for any errors or omissions, or for the results obtained from the use of this information, as the content published here is for information purposes only. The article does not constitute a comprehensive or complete statement of the matters discussed or the law relating thereto and does not constitute professional and/or financial advice.