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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.

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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.

Auctions prove to be stronger in 2014
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