With only four weeks of auctions remaining in 2014, now is the time to auction off property in Carlton and Sydney. According to RP Data, auctions this year have increased by 26.5 per cent – bringing the total thus far for 2014 to 88,402 compared to last year's 66,908. The national clearance rate for the week ending 23 November across 2,284 auctions was 67.7 per cent. While this was down from 68.5 per cent the week before, it's higher than the 65.4 per cent for this time last year.
As is the current theme in the housing market, Sydney was above average. From 920 auction results, the preliminary clearance rate was 74.3 per cent. This held up the preliminary clearance rate for the nation as no other market was above the weighted average. Compare this to 73.1 per cent for last week and 74 per cent this time last year and it looks as if auctions in Sydney will remain strong in the lead up to Christmas.
There is still a high number of properties to be auctioned on the market. This means that those looking to acquire their new dream house in Carlton before Christmas could snap up a nice pressie for themselves.