The busiest suburbs for auctions across the nation this week are in:
- Mount Waverley (Vic)- 21 auctions
- Mosman (NSW) & Bentleigh East (Vic) - 17 auctions each
- Balwyn North, Glen Waverley & Reservoir in Vic each with 14
Auction activity is expected to remain relatively steady week-on-week across the combined capital cities, with CoreLogic currently tracking 2,439 auctions this week. Last week, 2,412 capital city homes were taken to auction and one year ago a higher 2,745 auctions were held.
There are 1,169 Melbourne homes scheduled for auction this week, with volumes set to rise by 13.3% on last week’s figures (1,032). One year ago, a higher 1,401 auctions took place across the city.
In Sydney, there are -6.0% fewer homes scheduled for auction this week compared to last, with 891 scheduled auctions this week, down from the 948 auctions held last week, however higher than the 875 held one year ago.
Across the smaller auction markets, auction volumes are set to rise in Adelaide (23.9%), while volumes are down in Brisbane (-21.5%), Canberra (-32.4%) and Perth (-25.5%). Tasmania has 5 scheduled auctions this week.
Summary of Last Week’s results
Last week, 2,412 capital city homes were taken to auction; a 55.1% rise in volumes over the week (1,555). The higher volumes returned a final auction clearance rate of 70.6%, after the week prior saw the final clearance rate fall below 70%. The number of homes taken to auction last week was higher than volumes from over the same week one year ago when 2,386 auctions were held, and less than half sold (43.3%).
There were 1,032 Melbourne homes auctioned last week, returning a final auction clearance rate of 71.7%, an improvement on the 69% clearance rate the week prior when activity was significantly lower (255). One year ago, 46.2% of the 1,127 Melbourne homes taken to auction sold.
Sydney was the best performing auction market last week in terms of success rate, with 76.8% of homes successful at auction as at final figures. There were 948 auctions held across the city, having increased on the 843 held the week prior when 74.6% sold. Last year, 844 homes were auctioned across Sydney with only 42.1% successful.
Canberra was the best performing of the smaller auction markets last week, with 111 auctions held and a final auction clearance rate of 73.8%. Adelaide followed with 54.1% of auctions returning a successful result. While Brisbane (46.8%) and Perth (31.9%) saw less than half of the auctions held returning a sold result.