The clearance rate was adjusted from 56% to 53% after the Wednesday update.
There were 875 auctions expected pre-weekend, with 853 accounted for in the Wednesday result. (823 + Postponed: 10, Withdrawn: 15, Auctions with no result: 5 = 853). Rpdata gave total auctions at 890 for the week.
Total sales volume was up: $608.26mil in comparison to last week ($465.1mil), as were private sales: 532 (483 week prior).
This week will be much quieter with the Melbourne cup, although still 445 auctions expected.
Here's the preview from REIV.
Auction preview 29 and 30 October
*Last weekend: 823 auctions, clearance rate of 53 per cent *This weekend: 445 auctions *This weekend last year: 410 auctions, clearance rate of 66 per cent *This weekend 2009: 338 auctions, clearance rate of 83 per cent
This weekend auction numbers are lower than last weekend because of the Melbourne Cup on Tuesday. The impact on stock levels however is less pronounced than when the AFL Grand Final is on as there isn’t a direct clash on Saturday.
The number of auctions will increase again with 600 expected next weekend and 850 the weekend after.
The year to date clearance rate is now 57 per cent, from 22,940 auctions. At this stage last year the clearance rate was 74 per cent from 25,380 auctions and in 2009 there has been 16,555 auctions with an 81 per cent clearance rate.
