There are 3,043 capital city homes currently scheduled to go under the hammer this week, although with the introduction of various new restrictions as the current COVID outbreak in Sydney grows, we may see some downwards revision in the actual number of homes taken to auction. Over the previous week, 2,400 auctions were held across the combined capital cities, while this time last year, 1,485 homes were taken to auction.
Auctions this week
Melbourne is set to host 1,431 auctions this week, up substantially from both the previous week (788), and this time last year (645). If all of these auctions go ahead, it will be the second busiest auction week for Melbourne so far this year.
At this stage there are currently 1,153 homes scheduled to go to auction in Sydney this week, compared to 1,157 last week and 644 this time last year, although as mentioned this may change.
Across the smaller cities, volumes are set to be lower over the week in Brisbane, while Adelaide, Canberra and Perth are expected to see a slightly higher number of homes taken to auction. Tasmania is not expecting to see a change in auction volumes week-on-week with 2 auctions currently on the radar.
Summary of last week’s results
The combined capital cities recorded a final auction clearance rate of 74.1 per cent last week, up from 73.6 per cent over the previous week and 59.6 per cent this time last year. There were 2,400 homes taken to auction across the combined capitals last week, compared to a lower 1,413 over the previous week, and 1,251 this time last year.
Capital city auction statistics (Final)- w/e 20 June 2021
In Melbourne, 788 homes were taken to auction last week, and of the 785 results collected, 69.0 per cent were successful. In comparison, there were just 355 auctions held over the previous week, returning a slightly lower clearance rate of 68.8 per cent across 353 auction results.
Weekly clearance rate, combined capital cities
Sydney returned a final auction clearance rate of 76.8 per cent last week, up from 74.1 per cent over the previous week, and higher than this time last year (61.6 per cent). Looking at auction volumes, Sydney had its 4th busiest week for auctions last week, with 1,157 homes taken to auction across the city, compared to 745 over the previous week and 522 over the same week last year.
Across the smaller cities, Canberra was the best performing of the smaller auction markets with a final auction clearance rate of 83.0 per cent, followed by Adelaide (75.4 per cent), Brisbane (74.6 per cent) and Perth (55.6 per cent).