See Ya Later, Winter!

Date: 01/09/2015

Results for week ending August 30

Sydney and Melbourne failed to clear the bullish 80% auction clearance rate benchmark in the final week of winter, but results were solid nonetheless.

The Stat

Melbourne had over 1,000 auction results last weekend; Perth had 15.

The Graph

The Numbers

Auction Clearance Rates
Week Ending 30 Aug 2015	Clearance Rate	# Auction Sales
Sydney	78.1%	864
Melbourne	77.0%	1,024
Brisbane	58.2%	110
Adelaide	64.8%	71
Perth	66.7%	15
Tasmania	75%	4
Canberra	61.9%	21
Source – Corelogic RPData

The Analysis

Although sub 80%, high 70%’s in Sydney and Melbourne continue to demonstrate considerable demand support on the buyer side.

What It Means For Investors

Last weeks financial jitters did not translate into significant auction wobbles. From next week on though there is a lot more supply (sale) to push through as Spring unfolds. Take your seats please, the main event is about to start…

For the historical data of weekly Auction Clearance Rates, click here

By Steve McKnight

Steve McKnight, the founder of PropertyInvesting.com, is a respected property investing authority as well as Australia's #1 best-selling business author.