The busiest suburbs for auctions across the nation this week are all in Victoria:
- Reservoir - 22 auctions
- Mount Waverley - 17 auctions
- Brighton - 16 auctions
- Glen Waverley - 16 auctions
Auction volumes are set to increase across the combined capital cities this week with CoreLogic currently tracking 1,857 auctions, similar to this time last year when 1,851 homes were taken to auction across the capitals.
Melbourne is expecting to host just over 860 auctions this week, increasing from 775 over the previous week, although lower than 12 months ago (912). Sydney volumes are set to increase with 707 auctions on the radar this week, up from 317 over the previous week due to the NRL grand final and higher than this time last year (647).
Across the smaller auction markets, Adelaide, Brisbane, Canberra and Tasmania are expecting a rise in auction volumes week-on-week, while Perth will see fewer homes taken to auction over the week.
Summary of Last Week’s results
Last week, 1,324 homes were taken to auction across the combined capital cities returning a final auction clearance rate of 67.6 per cent, after holding above 70 per cent for the past 7 weeks. Over the previous week, 1,278 auctions were held and a clearance rate of 71.0 per cent was recorded, while one year ago, 1,817 homes were taken to auction returning a clearance rate of 49.5 per cent.
Melbourne saw 775 homes taken to auction last week, up from just 107 over the previous week due to the AFL grand final slowdown. The final clearance rate for Melbourne was recorded at 70.5 per cent last week, down from 80.2 per cent over the previous week. One year ago a clearance rate of just 51.8 per cent was recorded, although auction volumes were higher (904).
In Sydney, just 317 homes went to auction across the city last week returning a final clearance rate of 74.7 per cent. In comparison, 950 homes were taken to auction over the previous week and the clearance rate came in at 74.5 per cent. This time last year 611 auctions were held in Sydney while the clearance rate was a lower 46.1 per cent.
Of the non-capital city auction markets, the Gold Coast had the highest volume of auctions (68) last week, while the Geelong region was the best performer in terms of clearance rates with 66.7 per cent of reported auctions recording a successful result.