There are currently 2,150 homes scheduled for auction across the combined capital cities this week, up substantially from last week when 1,496 auctions were held, although lower than this time last year (2,517).

This week, just over half of all capital city homes scheduled for auction are in Melbourne, with 1,101 homes set to go under the hammer, up from last week when 635 auctions were held across the city. This week last year, 1,248 Melbourne homes were auctioned.

Auctions this week

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There are currently 786 homes set for auction in Sydney this week, increasing from 625 last week, although lower than this time last year (963).

Across the smaller auction markets, auction activity is set to rise over the week. Brisbane is set to host 88 auctions this week, followed by Canberra (80), Adelaide (76) and Perth (19). There are no auctions on the radar in Tasmania this week.

Summary of last weeks results

There were 1,496 capital city homes taken to auction last week, up from 1,304 over the previous week, although lower than the same week last year (1,596). The final auction clearance rate came in at 77.1 per cent across the combined capital cities last week, down from 79.3 per cent over the previous week. In comparison, this time last year, 73.3 per cent of reported auction results were successful.

Capital city auction statistics (Final)- w/e 14 February 2021

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In Melbourne, the final auction clearance rate revised down to 70.6 per cent last week. Auctions were impacted by stage 4 lockdown restrictions with final results showing 25 per cent of reported auctions were withdrawn. Of the successful auctions, 45.6 per cent were sold prior to auction. In comparison, the previous week recorded a final clearance rate of 76.0 per cent, as did this week last year. There were 635 auctions held across the city last week, up from 615 over the previous week although lower than this time last year when 743 auctions were held across the city.

Weekly clearance rate, combined capital cities

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Sydney saw 625 homes taken to auction last week, compared to 447 over the previous week and 583 this time last year. Sydney recorded a final clearance rate above 80 per cent for the second week in a row, with last week’s final clearance rate coming in at 83.9 per cent, down slightly from the previous week’s clearance rate of 84.4 per cent. This time last year, a final clearance rate of 75.4 per cent was recorded across the city.

Canberra was the best performer across the smaller capital cities, with a final clearance rate of 89.2 per cent, followed by Adelaide at 86.3 per cent.

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