The clearance rate was adjusted from 52% to 50% after the Wednesday update. There were 595 auctions expected pre-weekend, with 576 accounted for in the Wednesday result. I won't rehash these figures - It's all in last weeks thread.
Rpdata gave total auctions at 443 for the week, with a clearance rate of 47.3%
The figures for private sales changed with the Wednesday update from what was posted on the weekend, (from 465 to 432). I'm not sure if this was a mistake or not.
The total sales volume was $403.83mil, or $416.14 using the private sales value from the weekend posting of results.
Three big weekends of auctions to come. Although I have brought attention to the veracity of the clearance rate last weekend, as I have mentioned many times previously I think that it is actually the private sales volumes that are the most telling indicator of the current market conditions. It will be interesting to see how they track over the next few weeks.
Last weekend: 576 auctions, clearance rate of 50 per cent This weekend: 850 auctions This weekend last year: 921 auctions, clearance rate of 59 per cent This weekend 2009: 772 auctions, clearance rate of 81 per cent
Stock levels increase between now and the end of the month providing buyers with a good range of opportunities.
This weekend the REIV is expecting around 850 auctions followed by 815 next weekend and 1045 the last weekend of the month. From the perspective of stock levels the highest number of auctions this year was the weekend of the 26th and 27th of February when there was 994 auctions with a clearance rate of 64 per cent.
