This week, the number of auctions scheduled to take place will rise across the combined capital cities, with 1,753 currently being tracked by CoreLogic, up from last week when 1,470 were held.
Melbourne is expected to see the most significant increase in volumes over the week, with 840 properties scheduled for auction, up from 619 last week. Across Sydney, 605 homes are set to go under the hammer this week, increasing from the 522 last week.
Across the smaller auctions markets, Brisbane is set to be the only capital city to see a rise in auction activity this week.
Overall auction activity is set to be lower than the corresponding week last year (2,291).
Victoria has the busiest suburbs for auctions this week, with 20 homes set to go to auction in Craigieburn, followed by Bentleigh East with 14 and Reservoir with 13 scheduled auctions.
Summary of Last Week’s results
Last week, the final auction clearance rate increased across the combined capital cities, returning a 63.7 per cent clearance rate across almost double the volume of auctions week-on-week (1,470). Over the week prior, a clearance rate of 62.0 per cent was recorded across 790 auctions. Both auction clearance rate and volumes were lower than what was seen one year ago, when a 73.2 per cent clearance was recorded across 1,591 auctions.
Across Melbourne, auction volumes rose over the week returning a higher clearance rate, with 619 auctions held and 70.7 per cent successful, up from the 292 auctions the week prior when 70.2 per cent cleared. Last week saw Sydney’s final clearance rate increase to 61.1 per cent from 57.1 per cent the previous week, with the number of auctions held increasing over the week, with 522 held up from 216 the previous week.
Across the remaining auction markets, clearance rates increased over the week in Brisbane, Canberra and Tasmania, while Adelaide and Perth returned a lower clearance rate.
The Gold Coast was the busiest non-capital city region last week, with 50 auctions; however Geelong recorded the strongest clearance rate at 80 per cent.