Powered by MOMENTUM MEDIA
Broker Daily logo

Auctions prove to be stronger in 2014

Australia’s property auction clearance rates are set to exceed last year's figures, according to CoreLogic RP Data.

The average clearance rate for capital cities is sitting at 68 per cent, with one week to go in 2014, compared with 66.2 per cent in 2013.

Adelaide is likely to experience the biggest increase of all the capitals, with its clearance rate expected to rise 5.5 per cent to 62.0 per cent.

Brisbane’s clearance rate is predicted to rise 4.3 per cent to 45.8 per cent for 2014, while Canberra is tipped to rise 3.5 per cent to 55.8 per cent.

==
==

The clearance rate for Sydney is also expected to rise by 1.8 per cent for the calendar year to 74.5 per cent.

Perth is set to record a lower clearance rate for 2014 than the previous year, down 5.3 per cent to 41.2 per cent.

Melbourne is expected to post a solid clearance rate of 68.6 per cent for the year, which will be 0.6 per cent lower than in 2013.

More on Economy
21 November 2024
After witnessing some positive trends in the offset of COVID-19, business failures across the country have picked up ...
21 November 2024
With GDP growth at just 0.2 per cent as of the June quarter of 2024, small and medium-sized enterprises (SMEs) are ...
20 November 2024
The RBA minutes for the November meeting revealed that members recognised the importance of flexibility in monetary ...