The busiest suburbs for auctions this week are all in Victoria. Reservoir tops the list with 20 homes scheduled for auction, followed closely by Balwyn North (17), Bentleigh East (15) and Cheltenham (13).
CoreLogic is tracking 1,882 capital city auctions this week; a slight fall on last week’s final figure which saw 1,916 auctions held. So far the 2018 Spring selling season has seen volumes remain relatively steady each week. If we compare activity to the same week last year volumes are down 25 per cent on the 2,510 auctions held one year ago.
There are 928 Melbourne homes currently scheduled to go under the hammer this week, increasing from the 891 auctions last week, however, lower than the 1,265 auctions held last year.
Sydney will see 647 homes taken to auction across the city this week, a difference of only 9 auctions when compared to final figures last week (656). Compared to last year, a higher 916 auctions were held.
Adelaide, Brisbane and Perth are expected to host fewer auctions this week, while Canberra will see a similar volume of auctions held week-on-week.
Summary of Last Week’s results
The combined capital cities returned a final auction clearance rate of 55.3 per cent last week, a slight improvement on the 55 per cent over the week prior when volumes were lower. There were 1,916 homes taken to auction last week, up on the 1,748 held the previous week. While one year ago, a higher 2,258 auctions were held with a 66.9 per cent success rate.
Melbourne returned a final auction clearance rate of 60 per cent this week; an improvement not only over the week but the highest seen since May, with clearance rates for the city remaining within the mid-high 50 per cent range up until this week. The improved clearance rate was across a higher volume of auctions week-on-week, with 891 auctions held, increasing on the 805 held the week prior when 57 per cent sold.
Sydney’s final auction clearance rate came in at 50.6 per cent last week across 656 auctions, falling on the week prior when a 53.8 per cent clearance rate was returned and auction volumes were a similar 664.
As usual the performance across the smaller auction markets was mixed last week, with clearance rates improving in Adelaide, Brisbane and Canberra, while Perth’s final clearance rate fell.
The Gold Coast region was the busiest non-capital city region last week with 56 homes taken to auction, although only 26.4 per cent sold. Geelong was the best performing in terms of clearance rate with 88 per cent of the 34 auctions successful.
Sub region auction results