There are 1,206 capital city auctions being tracked by CoreLogic this week, down from 1,326 auctions last week, but higher than this time last year when 1,108 homes were taken to auction.
In Melbourne, 357 auctions are scheduled across the city this week, lower than the 540 auctions scheduled last week, which saw 217 withdrawn from the market according to final figures; a trend that is likely to continue throughout the lockdown period.
There are 611 Sydney homes scheduled for auction this week, up from 594 last week, and higher than the 386 held one year ago.
Across the smaller auction markets, Brisbane is set to hold the most auctions this week (114), followed by Canberra (61), Adelaide (51) and Perth (11). While Tasmania has 1 auction scheduled.
Summary of last week’s results
There were 1,326 capital city homes scheduled for auction last week, higher than the 1,176 over the previous week, and the 1,124 one year ago. Of the 1,315 reported results last week, 54.1% returned a successful result, which was an improvement from the week prior when a 53.1% final clearance rate was recorded.
In Melbourne, 540 homes were scheduled for auction last week, however less than 50% of these returned a successful result. Of the 537 results collected, 40% were withdrawn results. There were 252 properties sold across the city last week with 50.4% reportedly selling prior to the scheduled auction date.
In Sydney, the final auction clearance rate fell across a higher volume of auctions last week. There were 594 homes taken to auction returning a final auction clearance rate of 60.6%, lower than the 61.4% over the week prior when 515 auctions took place. One year ago, a lower 394 Sydney homes were auctioned with a higher final clearance rate (75.7%).
Across the smaller cities, Canberra was the best performing capital city again last week, with 77.6% of homes selling at auction, however this was lower than the week prior when a 88.6% final clearance rate was achieved.