Clearance rates remain steady

(Ray White auctioneer James Kerley calling an auction in Randwick last weekend.)

AUCTION volume has remained high but strong bidder activity has kept clearance rates from plummeting.

This week, the Ray White Group has 1,058 auctions scheduled - up 76 per cent on last year, while of that number, 575 are booked in for this Saturday.Sydney again topped the list with 286 auctions scheduled this week but Melbourne isn’t far behind, boasting 282 auctions. In Brisbane, Ray White has 132 scheduled and Ray White Adelaide a further 69. Between Ray White offices on the Gold Coast, Perth and Darwin there are 45 auctions scheduled.Despite an increase in auction volume of 54 per cent on the same time last year, this Saturday is expected to again result in a historically high clearance rate, similar to results from the last month.So far this year, Ray White has conducted 15,568 auctions with a clearance rate of 76.8 per cent.“This clearance rate is the highest we have ever recorded,” Ray White chief economist Nerida Conisbee said.“Of all the suburbs that we held more than 10 auctions, 37 of them out of 611 suburbs achieved 100 per cent clearance rates.“Of all of these, Cammeray on Sydney’s Lower North Shore had the most auctions taking place - every single of the 48 auctions that took place resulted in a sale.”Ray White listing authorities are trending down from the highs of October and November with a 14 per cent decrease over the last four weeks. However, this comes as no surprise as sellers wrap up their campaigns in time for Christmas or make plans to wait for the new year.

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