This week, the busiest suburb for auctions is in Victoria where Bentleigh East has 20 homes scheduled for auction. Followed by Craigieburn also in Victoria with 17 scheduled auctions, while St Ives (NSW) and Bentleigh (Vic) each have 15 auctions scheduled.
The combined capital cities are expected to see a lower volume of auctions this week with CoreLogic currently tracking 2,285 auctions, down from the 2,631 held last week and lower than the 2,890 homes taken to auction one year ago.
Melbourne is set to see a lower volumes of auctions take place over the week, with 1,101 being tracked so far, decreasing from last week when 1,283 auctions were held across the city and much lower than 12 months ago when 1,630 homes went under the hammer.
In Sydney, 695 homes are currently scheduled for auction this week, down from 870 last week and lower than the same week last year when 708 auctions were held across the city.
Across the smaller auction markets, the number of homes scheduled for auction this week are lower in Brisbane and Canberra, while Adelaide, Perth and Tasmania are expected to see a higher number of auctions take place.
Summary of Last Week's results
There were 2,631 homes taken to auction across the combined capital cities last week, returning a final auction clearance rate of 41 per cent. The weighted average has continued to decline over each of the past four weeks, surpassing the previous week as the lowest recorded since October 2011. Last year, a significantly higher 3,371 capital city homes went to auction returning a clearance rate of 59.5 per cent.
Melbourne’s final auction clearance rate came in at 43.8 per cent last week. There were 1,283 auctions held across the city, down from the week prior when 1,378 Melbourne homes were taken to auction and a lower 42.7 per cent cleared.
In Sydney, a final auction clearance rate of 41.3 per cent was recorded across 870 auctions, down from the previous weeks 41.6 per cent when 937 auctions were held.
Across the remaining auction markets, Canberra returned the highest final clearance rate of 43.7 per cent, while only 22.4 per cent of Brisbane homes sold at auction last week.
Of the non-capital city auction markets, Geelong returned the highest final clearance rate of 47.3 per cent across 61 auctions.