The busiest capital city suburbs for auctions this week are all in Victoria:
- Mount Waverley - 23 auctions
- Reservoir– 21 auctions
- Bentleigh East & Richmond – 19 auctions each
There are 2,737 capital city homes scheduled for auction this week, with volumes expected to be down by only 6% on last week’s final figures (2,912), however, higher than volumes from one year ago (2,406).
There are 1,300 Melbourne homes scheduled for auction this week, down on last week when 1,520 auctions were held, and higher than the 1,173 held one year ago.
In Sydney, the number of homes scheduled for auction this week is expected to fall slightly with 909 scheduled to take place compared to last week’s 976 auctions held. One year ago, a lower 723 Sydney homes were taken to auction over the same week.
Across the smaller auction markets, volumes are set to be higher across Brisbane (185), Canberra (127), Perth (73) and Tasmania (8), while Adelaide will see fewer auctions held over the week (135).
Summary of Last Week’s results
Last week, 2,912 auctions were held across the combined capital cities; the second busiest auction week of the year, coming off the back of the busiest week of 2019 the week prior (3,206). The weighted average clearance rate has held above 70% across the two busiest weeks of the year, coming in at 71.1% last week, which was slightly lower than the 73.6% the previous week. One year ago, 2,631 capital city homes were auctioned however less than 50% were successful.
There were 1,520 Melbourne homes auctioned last week, returning a final auction clearance rate of 73.2%, lower than the previous week when the final clearance rate came in at 74.8% across a similar volume of auctions (1,533).
In Sydney, 976 homes were taken to auction, down on the previous week when 1,221 auctions took place. The final clearance rate fell over the week, down from 78.1% over the previous week to 73.8% last week.
Across the smaller cities Canberra returned the highest clearance rate of 70.8% last week, while only 42.1% of homes sold across Perth.