There are 1,894 capital city homes currently scheduled to go under the hammer this week, up from 1,453 over the previous week. This time last year, 915 auctions were held across the combined capital cities.
Auctions this week
There are 629 auctions currently scheduled in Melbourne this week, up from 386 over the previous week. The actual number of homes taken to auction will likely revise significantly lower over the week due to the number of rescheduled auctions we are seeing throughout the lockdown period. This time last year, just 11 auctions were held across the city.
Sydney is set to host 801 auctions this week, the busiest week for auctions across Sydney since late June. There were 661 homes taken to auction over the previous week and 677 this time last year.
Across the smaller capital cities, Adelaide is set to host the highest number of auctions over the week (203), followed by Brisbane (182) and Canberra (54). Perth is expecting to see 18 homes taken to auction, while there are 7 auctions scheduled in Tasmania this week.
Summary of last week's results
A final clearance rate of 73.7 per cent was recorded across the combined capital cities last week, up from both the previous week (67.7 per cent) and this time last year (63.0 per cent). There were 1,453 homes taken to auction across the combined capitals last week, down from the 1,638 originally scheduled. Over the previous week, 1,423 auctions were held, while this time last year, 816 homes were taken to auction.
Capital city auction statistics (Final)- w/e 12 September 2021
There were 386 auctions held across Melbourne last week, down -30.3 per cent from the initial predicted count. Of the 382 results collected, 55.0 per cent were successful, up from 43.8 per cent over the previous week. Melbourne’s clearance rate has been improving over the last two weeks which once again comes down to the lower withdrawal rate (42.1 per cent last week, compared to 52.9 per cent over the previous week). This time last year, just 13 auctions were held in Melbourne, returning a clearance rate of 25.0 per cent.
Weekly clearance rate, combined capital cities
There were 661 homes taken to auction in Sydney last week, compared to 607 over the previous week and 600 this time last year. A final clearance rate of 82.8 per cent was recorded across the city last week, the highest clearance rate the city has seen since late March, and the third consecutive week where Sydney has recorded a final clearance rate above 80.0 per cent. The previous week saw 81.2 per cent of reported auctions return a successful result, while this time last year, a clearance rate of 65.9 per cent was recorded.
Across the smaller cities, Adelaide recorded a final auction clearance rate of 85.4 per cent last week, followed by Canberra (73.8 per cent), Brisbane (70.1 per cent), and Perth (66.7 per cent). With Canberra still in lockdown, 19.0 per cent of auctions were reported as withdrawn across the city last week, down from 30.9 per cent over the previous week, although this number may start to rise again with the announcement that Canberra's lockdown has been extended by another 4 weeks.