There are 2,271 capital city homes scheduled to go to auction this week, a slight increase on the 2,168 auctions held last week.
Auctions this week
In Melbourne, 1,085 homes are set to go under the hammer across the city, only 12 extra auctions on last week’s figures, and over double the number of auctions held one year ago (506).
Sydney is currently in lockdown which has now been extended for another week. There are 797 auctions scheduled to take place this week, up on the 756 last week and the 566 one year ago. Despite the lockdown the city is still seeing a considerable number of auctions take place with 12% of auctions last week rescheduled to a later date. Of the auctions that did go ahead 22% returned a withdrawn result. This means 585 auctions proceeded last week.
Brisbane has 170 scheduled auctions this week, making it the busiest of the smaller auction markets. Followed by Adelaide (112), Canberra (85), Perth (16) and Tasmania (6).
Summary of last week's results
The combined capital city final auction clearance rate fell last week as fewer auctions took place.
There were 2,168 auctions held across the combined markets, returning a final auction clearance rate of 72.1%. This was lower than the 75.4% recorded over the week prior when a higher 2,960 auctions took place.
Capital city auction statistics (Final) - w/e 4 July 2021
There were 1,073 Melbourne homes taken to auction last week, lower than the 1,418 auctions held over the previous week. 100% of results were collected across Melbourne last week, 73.1% of which were sold results. Over the week prior a final auction clearance rate of 74.7% was recorded.
Weekly clearance rate, combined capital cities
In Sydney, 756 auctions were scheduled to take place last week. Of the 752 results collected a final success rate of 70.5% was recorded with 22% of results withdrawn. Of the 530 sold results collected, 55.5% reportedly sold prior to the scheduled auction event. Over the week prior, 1,084 auctions took place with a final clearance rate of 77.5%.
Canberra was the best performing smaller auction market last week, with a final clearance rate of 87.9%. Adelaide followed with a success rate of 78%. Brisbane was set to be the busiest auction market last week, however 16% of the original auction count was rescheduled to another week. This meant Adelaide and Brisbane each had 128 auctions scheduled. However, of the results collected across Brisbane, 14% were withdrawn as the city remained in lockdown until Saturday evening.