CoreLogic RP Data National Auction Preview, week ending 22 March 2015
There are 3,003 auctions expected this week across Australia with 2,539 expected in capital cities. This is compared to 2,556 last week and 2,466 for the same week last year.
With full data now available for 2014 it is clear that the proportion of sales by auction increased in each capital city when compared to both 2013 and 2012. The use of auctions traditionally grows with prices and competition as vendors and agents seek to take advantage of the rising market. The data shows that compared to other recent upswings this cycle is different as all auction records have been broken in Sydney and Melbourne at the same time as there were more than 100,000 auctions in capital cities.
Author: Robert Larocca