The busiest individual suburb for auctions this week is Glen Waverley in Vic, with 12 homes set to go under the hammer, following closely with 11 scheduled auctions each is Glen Iris and Preston (Vic).
Auction volumes are set to remain steady for another week, with 1,121 capital city homes scheduled for auction this week, only 10 extra auctions on last week’s final figures.
There are 528 Melbourne homes scheduled for auction this week, up on the 500 auctions held last week, although down on a yearly basis (860).
In Sydney, the number of homes scheduled for auction this week is up 12.8 per cent on final figures last week, with 414 auctions scheduled to take place compared to last week’s 367 auctions held.
One year ago, a higher 458 Sydney homes were taken to auction over the same week.
Across the smaller auction markets, volumes are expected to be down across Adelaide, Canberra, Perth and Tasmania, while Brisbane is set to see an increase in activity this week.
Summary of Last Week’s results
Last week, 1,111 auctions were held across the combined capital cities, returning a final clearance rate of 67.8 per cent, increasing on the 66.4 per cent clearance rate over the week prior when volumes were similar.
The weighted average clearance rate has held above 65 per cent for five consecutive weeks now, while auction volumes have remained steady each week over the past month. On a yearly basis, clearance rates are currently tracking around 10 percentage points higher, while volumes still remain around 20 per cent lower.
Both Melbourne and Sydney saw their final auction clearance rate reach the highest levels so far this year.
In Melbourne, a final clearance rate of 72.3 per cent was recorded last week; the highest the city has seen since Nov-17. Volumes were unchanged week-on-week with 500 auctions held. Sydney returned a final auction clearance rate of 76.2 per cent, making it the best performing auction market for another week and the highest clearance rate the city has recorded since Apr-17. Volumes were slightly lower week-on-week across the city, with 367 homes taken to auction down from the 386 auctions held the week prior.
Across the smaller auction markets, Canberra was the best performing in terms of clearance rate with 62.7 per cent of homes selling at auction, Adelaide followed with a 56 per cent final clearance rate. While Brisbane and Perth returned final clearance rates below 40 per cent.