The busiest suburbs for auctions across the capital cities this week are:
- Mosman & St Ives (NSW) - 15 auctions each
- Surfers Paradise (Qld) & Richmond (Vic) – 12 auctions each
- Glen Iris, Glen Waverley, Preston & Reservoir (Vic) – 11 auctions each
Auction volumes are set to remain relatively steady over the week, with 1,515 capital city homes scheduled for auction, only 1.2% fewer auctions on final figures from last week (1,533).
There are 762 Melbourne homes scheduled for auction this week, almost unchanged on last week when 765 auctions were held last week, although down 22% on a yearly basis (988).
In Sydney, the number of homes scheduled for auction is expected to increase slightly with 543 auctions scheduled to take place compared to last week’s 528 auctions held. One year ago, a higher 669 Sydney homes were taken to auction over the same week.
Across the smaller auction markets, volumes are to be lower across Adelaide, Brisbane, Canberra and Perth, while activity remains very subdued in Tasmania with only 2 scheduled auctions.
Summary of Last Week’s results
Last week, 1,533 auctions were held across the combined capital cities, returning a final clearance rate of 72.3 per cent, increasing on the 70 per cent clearance rate over the week prior when volumes were higher (1,615).
The weighted average clearance rate has held above 70 per cent for four consecutive weeks now, while auction volumes have remained somewhat steady each week over the past 3 weeks. One year ago, a higher 1,916 capital city homes went to auction, returning a 55.3 per cent success rate.
There were 765 Melbourne homes auctioned last week, returning a final auction clearance rate of 74.0 per cent, similar to the previous week when the final clearance rate came in at 74.4 per cent across 768 auctions.
In Sydney, 528 homes were taken to auction, down on the previous week when 590 auctions took place. The final clearance rate improved week-on-week, up from 74.5 per cent over the previous week to 75.7 per cent last week.
Of the non-capital city auction markets, Wollongong had the highest volume of auctions (44) last week, while Geelong was the best performer in terms of clearance rates with 50.0 per cent of reported auctions recording a successful result.