There are 2,139 homes set to go to auction this week across the combined capital cities, an expected rise in activity of 33% over the week.
Auctions this week ending the 15th August
Melbourne accounts for more than half of the overall scheduled volumes this week with 1,131 homes set to go under the hammer, up over 70% on last week’s volumes (662). However, with the recent announcement to extend the current lockdown for another 7 days, it’s likely this will revise down.
There are 596 Sydney homes set for auction this week, a slight increase on last week’s 564 auctions held.
Brisbane is expected to be the busiest of the smaller auction markets this week, with 166 homes scheduled for auction. Following is Adelaide (136), Canberra (93) and Perth (17). No auctions will take place in Tasmania this week.
Over the same week last year, auction volumes were significantly lower across all cities except Sydney.
Summary of last week's results
Both the final auction clearance rate and auction volumes fell last week across the combined capital cities.
There were 1,606 capital city homes taken to auction last week, returning a final auction clearance rate of 74%, coming in lower than the previous week when 1,761 auctions took place and a 77.2% success rate was achieved. One year ago, 1,150 auctions took place and a final auction clearance rate of 58.4% was recorded.
Capital city auction statistics (Final) - week ending 8 August 2021
There were 662 Melbourne homes taken to auction last week, down 21% from the initial predicted count as the city entered lockdown. Of the 656 results collected, a final auction clearance rate of 69.1% was recorded and 19% came in as withdrawn. Of the sold results, 41.4% sold prior to auction. Over the previous week, 656 auctions took place with a success rate of 77.2%, and one year ago 294 homes were auctioned and a final clearance rate of 63.7% was recorded.
Weekly clearance rate, combined capital cities
In Sydney, 564 auctions took place last week, the lowest weekly number of auctions over the current lockdown period to date. Of the 557 results collected, a withdrawal rate of 14% was recorded and the final clearance rate came in at 77.6%. Of the 432 sold results, 58.8% sold prior to auction. Over the previous week, 671 auctions took place across the city and a final auction clearance rate of 76.1% was recorded.
The best performing of the smaller auction markets was Canberra with an 88.9% final clearance rate, followed by Adelaide (76.9%), Brisbane (71.2%) and Perth (61.9%).