This week, the number of capital city homes scheduled to go to auction is set to rise with 2,207 auctions currently being tracked by CoreLogic.
Last week over the Easter period, a much lower 845 auctions were held across the capital cities, which happened to be the busiest Easter week CoreLogic has on record.
Volumes are set to be higher week on week across each of the individual capital cities.
Auctions this week
Melbourne is expected to be the busiest auction market this week, accounting for 47% of the overall activity with 1,035 auctions scheduled. This is up on last week’s 211 auctions that took place and the 88 held one year ago during a period of lockdowns.
Sydney has 849 homes scheduled to go under the hammer this week, rising on the 404 held last week and the 413 one year ago.
Brisbane is set to be the busiest of the smaller markets this week with 122 auctions scheduled across the city. Following is Adelaide (96), Canberra (79), Perth (19) and Tasmania (7).
Summary of last weeks results
Last week, auction volumes dropped as the nation welcomed the Easter long weekend with only 845 capital city homes auctioned. While this was down significantly from the week prior (3,840), it was the busiest Easter period on record for CoreLogic. The lower volumes saw the final auction clearance rate fall with 77.1% of homes selling, down from the 83.1% the previous week.
Capital city auction statistics (Final)- w/e 4 April 2021
In Melbourne, 211 homes were taken auction last week, down significantly on the 1,929 auctions held over the week prior. The final auction clearance rate weakened across the lower numbers, with 73.5% of homes selling, down on the 81% recorded over the previous week.
Sydney was the busiest auction market last week with 404 homes taken to auction. Much like Melbourne the final auction clearance rate dropped over the week with 82% of homes selling, down from 87.6% the previous week.
Across the smaller cities, Canberra was a standout performer for another week, with 92% of homes selling at auction. The city has recorded a clearance rate above 90% for four out of the last five weeks. Following with the second highest clearance rate was Adelaide (72.4%).