All five of the busiest suburbs for auctions this week are in Melbourne with Reservoir coming in first place hosting 28 auctions, followed by Mount Waverley (21) and Glen Waverley (19), while Bentleigh East and Richmond are set to hold 17 auctions each this week.
Auctions this week
The number of homes scheduled to go to auction this week is set to rise across the combined capital cities with CoreLogic currently tracking 2,602 auctions, up from 2,386 over the previous week.
Melbourne accounts for 51 per cent of all auctions this week with just over 1,300 homes scheduled to go under the hammer, increasing from 1,127 last week. Sydney volumes are sitting at similar levels week-on-week with 845 auctions currently on the radar, compared to 844 last week.
Across the smaller auction markets, Adelaide will see fewer homes taken to auction week-on-week, while Brisbane, Perth and Tasmania will see auction activity increase. Canberra will see little change in auction volumes when compared to last week. Year-on-year auction volumes are lower across each individual capital city. A total of 3,390 homes were taken to auction this time last year.
Summary of Last Week's results
Capital city auction statistics (final)
Last week saw 2,386 homes taken to auction across the combined capital cities, returning a final auction clearance rate of 43.3 per cent, increasing from the previous week when 42.7 per cent of the 1,541 homes taken to auction were successful.
Weekly clearance rate, combined capital cities
Melbourne was the busiest city in terms of auction activity with 1,127 homes taken to auction, returning a final clearance rate of 46.2 per cent. Over the previous week, just 266 auctions were held and the clearance rate was recorded at a lower 45.7 per cent. This time last year, 1,296 homes were taken to auction across the city and a stronger clearance rate was recorded (69.2 per cent).
There were 844 homes taken to auction in Sydney last week returning a clearance rate of 42.1 per cent. Over the previous week, 813 homes were taken to auction and a clearance rate of 42.6 per cent was recorded, while this time last year 1,102 auctions were held returning a clearance rate of 58.5 per cent.
Across the smaller auction markets, clearance rates improved across Brisbane, while Adelaide, Canberra, Perth and Tasmania saw a fall in clearance rates week-on-week.
Of the non-capital city auction markets, Geelong had the highest volume of auctions (60) last week and was the best performing in terms of clearance rates with 40.8 per cent of reported auctions recording a successful result.
CoreLogic, on average, collects 90% of auction results each week. Clearance rates are calculated across properties that have been taken to auction over the past week.