Melbourne Auction Clearance Tanks

Date: 25/08/2015

Results for week ending August 23

The Spring silly season can’t come soon enough for the nation’s biggest auction market – Melbourne, where the clearance rate was the lowest since February.

The Stat

Melbourne’s auction clearance rate of 73% represents more auctions and fewer buyers.

The Graph

The Numbers

Auction Clearance Rates
For week ending August 23	Clearance Rate	# Auction Results
Sydney	79.9%	697
Melbourne	73.0%	846
Brisbane	54.8%	104
Adelaide	74.2%	62
Perth	37.5%	24
Tasmania	66.6%	6
Canberra	71.1%	72
Source – Corelogic RPData

The Analysis

Although dipping, auction clearances across the board (74.1%) remain higher than a year ago (69.5%).

What It Means For Investors

With Spring only a week away it is time to say goodbye to the cold weather and hello to blooming blossoms… and the peak auction selling season.

However with jitters on world financial markets and the heat seemingly coming out of the property market (as evidenced by falling auction clearance rates), the question remains – can demand bounce back in time to absorb the extra supply coming on to the market in the weeks ahead?

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.