This week, all of the busiest suburbs for auctions are in Victoria. Glen Waverley tops the list with 19 homes scheduled for auction. Followed by Bentleigh East and Reservoir with 17 and 15 scheduled auctions respectively.
Auction activity will increase across the combined capital cities this week, with 1,757 homes set to be auctioned, up from last week’s final result of 1,197 auctions held. The number of homes expected to go to auction this week is significantly lower than volumes from over the corresponding week last year, when 3,136 auctions were held.
Melbourne will see the most significant increase in activity this week after last week saw volumes fall across the city with 847 properties scheduled for auction this week, up from the 216 last week.
In Sydney, there are fewer auctions scheduled this week compared to last week’s final figures, with 619 homes set to go to auction, down from the 701 auctions held last week.
Across the smaller markets, the number of homes scheduled for auction will increase in Adelaide, Canberra and Tasmania, while Brisbane and Perth will see fewer auctions take place week-on-week.
Summary of Last Week’s results
Last week, the combined capital city final auction clearance rate fell to 47.8 per cent across a lower volume of auctions with 1,197 held, down from the 2,201 auctions over the week prior when a higher 50.4 per cent cleared. The weighted average clearance rate and volumes have continued to track lower than results from last year, when over the corresponding week 63.3 per cent of the 1,764 homes taken to auction sold.
Across Melbourne, last week saw the final clearance rate fall below 50 per cent, however volumes were significantly lower due to the Monday public holiday with only 216 auctions held down from the 1,039 over the previous week when 52 per cent cleared.
In Sydney, the final clearance rate fell slightly to 52.3 per cent, from 54.8 per cent the week prior. There were 701 auctions held across the city last week, down from the 801 held over previous week.
Across the smaller auction markets, performance was mixed last week, with clearance rates improving in Adelaide, Brisbane and Perth, while Canberra returned a lower week on week result.
The Gold Coast region was the busiest non-capital city region last week, with 46 auctions, however Wollongong recorded the strongest clearance rate at 80 per cent.