It’s expected to be a relatively quiet week for auctions across the combined capital cities, with 1,100 homes scheduled to go under the hammer this week, down from the 1,411 auctions held last week, auction volumes have trended lower over each of the last 4 weeks. While over the same week one year ago, a higher 1,627 homes were taken to auction across the combined markets.
Volumes are set to be lower across each of the individual cities this week, with the exception of Adelaide which is expected to see an increase in activity.
There are 520 Melbourne homes scheduled for auction this week, down from the 631 held last week and also lower than the 756 held one year ago.
In Sydney, volumes are down almost 30 per cent on last week’s final figures, with a total of 389 homes scheduled for auction this week, decreasing from the 552 last week.
The top 5 busiest suburbs for auctions this week are all in Victoria. Topping the list with 14 scheduled auctions is Craigieburn, followed by Preston with 12, Reservoir with 11, while Footscray and Richmond will each host 10 auctions this week.
Summary of last week's results
There were 1,411 homes taken to auction across the combined capital cities last week, returning a steady week-on-week final auction clearance rate of 52.6 per cent. Clearance rates have remained relatively consistent over the past 2 months; remaining with in the low to mid 50 per cent range. While volumes have been trending lower over each of the last 4 weeks, and also tracking lower relative to volumes from the same period last year.
Melbourne’s final auction clearance rate fell to 56.1 per cent across 631 auctions last week, down from the 57.2 per cent across a higher 791 auctions over the previous week. Over the same week last year, 818 homes went to auction and a clearance rate of 72.9 per cent was recorded.
Sydney’s final clearance rate has been fairly stable over the last 3 weeks, with last week’s final clearance rate coming in at 50.1 per cent across 552 auctions, compared to 49.7 per cent across 634 auctions the week prior. This time last year, 656 homes went under the hammer, returning a clearance rate of 68.6 per cent.
Across the smaller auction markets, clearance rates were varied with Brisbane, Perth and Tasmania all improving week-on-week, while Adelaide and Canberra fell.
Of the non-capital city markets, Geelong recorded a impressive 90 per cent final auction clearance rate last week across 20 results.
Sub region auction results