Finance Finance News Auction numbers hit record high

Auction numbers hit record high

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The number of homes auctioned in capital cities has hit a record high.

A total of 3,908 homes went under the hammer in the week to November 30, beating the record 3,458 set in December 2013, figures from CoreLogic RP Data show.

There are another 3,226 auctions expected in capital cities this week, compared to 3,213 in the same period a year ago.

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A key measure of the balance between supply and demand in the housing market is the percentage of homes going to auction and being sold – the auction clearance rate.

The average clearance rate across capital cities last week remained high at 65.7 per cent, compared with 65.4 per cent in the same week a year ago, CoreLogic RP Data said.

The booming Sydney market retained the highest clearance rate, but the results around the country were patchy.

Auction clearances in the week to November 30

Sydney: 804 sold from 1,119 auctions, 71.8pct

Melbourne: 849 sold from 1,285 auctions, 66.1pct

Brisbane: 71 sold from 164 auctions, 43.3pct

Adelaide: 79 sold from 129 auctions, 61.2pct

Perth: 18 sold from 47 auctions, 38.3pct

Hobart: 3 sold from 18 auctions, 16.7pct

Darwin: 4 sold from 6 auctions, 66.7pct

Canberra: 50 sold from 79 auctions, 63.3pct

Source: CoreLogic RP Data

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