This week, 694 capital city homes were scheduled for auction, with preliminary results returning a 59.8 per cent clearance rate. The lower volume of auctions came as most states and territories welcome the Queen’s Birthday public holiday on Monday. The previous week saw 856 homes scheduled for auction and a final clearance rate of 61.3 per cent, the third week in a row where the final clearance rate held above 60 per cent. One year ago, there were 805 homes taken to auction and a 48.3 per cent clearance rate was recorded.

In Melbourne, 189 homes were scheduled to go under the hammer this week. So far 128 auctions have been reported, returning a preliminary success rate of 64.1 per cent. The previous week saw a final clearance rate of 65.1 per cent across 261 auctions. 

In Sydney, 388 homes were scheduled for auction this week, returning a preliminary clearance rate of 62.2 per cent across 249 results. In comparison, last week saw 452 homes taken to auction with a success rate of 63.9 per cent.