melbourne: 19 and 20 november

Last week

REIV downgraded the clearance rate from 53% to 51%. They didn't bother reporting the actual figures though.

Rpdata reported a clearance rate of 48.3% from 696 reported auction results. They recorded 865 auctions for the week.

Rpdata results for week ending 13/11/11

Private sales were up slightly from last week, although sales volume was up. Although still much lower than they should be at this time of year. The spring fizz looks to continue.

Here's the auction preview from REIV

Auction preview 19 and 20 November

*Last weekend: 805 auctions, clearance rate of 51 per cent
*This weekend: 815 auctions
*This weekend last year: 1013 auctions, clearance rate of 57 per cent
*This weekend 2009: 739 auctions, clearance rate of 81 per cent

After this weekend there are only four more weekends for auctions this year.

It looks likely that the overall clearance rate for the year will be around 57 per cent, very similar to the result in 2004 of 56.8 per cent. The clearance rate however is only part of the story; the other comparison that must be made is the overall number of auctions, in which case since 2004 there will only be two years when more auctions were held, 2007 and 2010.