There are 2,610 capital city homes scheduled to go under the hammer this week, up on the 1,413 auctions last week and higher than the 1,251 auctions held one year ago.
While Melbourne is expected to see the largest increase in auction volumes over the week, it’s Sydney that is set to be the busiest auction market accounting for 47% of all activity this week.
Auctions this week
There are 935 Melbourne homes set to be auctioned this week, up on the 355 last week after the city emerged from a two week lockdown. One year ago, 558 Melbourne homes were taken to auction.
In Sydney, 1,216 homes will be auctioned this week, up on the 745 auctions last week, and the 522 last year.
Each of the smaller capital cities are expected to see a rise in auction volumes this week with the exception of Perth. Brisbane is set to be the busiest with 188 auctions scheduled to take place, followed by Adelaide (143), Canberra (109), Perth (17) and Tasmania (2).
Summary of last week's results
Auction volumes dipped last week as most of the states and territories welcomed a long weekend with the Queens public holiday on Monday.
There were 1,413 capital city homes taken to auction, returning a final auction clearance rate of 73.6%. This was an improvement on the 70.6% clearance rate recorded over the week prior when a much higher 2,668 homes were auctioned. One year ago, 1,181 auctions were held recording a final auction clearance rate of 59.3%.
Capital city auction statistic's (Final) - week ending 6th June 2021
Volumes remained low across Melbourne last week with the lockdown ending just before the long weekend. There were 355 homes taken to auction, returning a final auction clearance rate of 68.8%. This was higher than the 64% recorded over the previous week when a higher 1,081 auctions were held. Of the 353 results collected last week, 18% were reportedly withdrawn results, this was a lower withdrawal rate than the week prior when a 31% withdrawal rate was recorded. There were 243 sold results, 40.7% of which were ‘sold priors’, this was lower than the 56.4% of sold priors recorded over the previous week.
Weekly clearance rate, combined capital cities
In Sydney, 745 auctions were held last week, down on the 1,164 held over the week prior. The final clearance rate came in at a lower 74.1%, from 75.6% the previous week. One year ago, 545 auctions took place across the city with a final auction clearance rate of 63.7%.
Adelaide and Canberra both returned a clearance rate of 83.3% last week; the highest amongst the smaller auction markets. Brisbane followed with a 73.4% final clearance rate and finally Perth at 60%.