This week, CoreLogic is currently tracking 3,017 capital city auctions, increasing from the 1,992 auctions held last week.
As usual, Melbourne and Sydney are the two busiest capital city auction markets this week, with 1,485 and 1,120 auctions scheduled; up from last week’s final result of 932 and 737 auction’s held respectively.
Across the smaller markets, activity is expected to be higher week-on-week in each capital city.
The overall number of properties scheduled for auction this week is expected to be lower than final results from the same week last year when 3,301 auctions were held.
Craigieburn in Victoria is the busiest suburb for auctions across the nation this week, with 22 homes set to go to go under the hammer. Following closely is Randwick and St Ives in NSW both with 21 scheduled auctions.
Summary of Last Week’s results
The final auction clearance rate across the combined capital cities rose to 66.1 per cent across a higher volume of auctions last week, with 1,992 auctions held, increasing from the 1,470 auctions the week prior when 63.7 per cent cleared. Last week’s clearance rate was lower than the 74.9 per cent recorded one year ago when volumes were higher (2,291).
There were 932 Melbourne auctions held last week, increasing from the 619 over the week prior, however final results saw the final auction clearance rate fall, returning a 69.8 per cent clearance rate last week down from the 70.7 per cent the previous week. In Sydney, the final auction clearance rate rose to 67.8 per cent last week across a higher volume of auctions with 737 held, up from 522 the week prior when 61.1 per cent sold.
Across the smaller auction markets, Perth was the only capital city to see an increase in clearance rate, with Adelaide, Brisbane and Tasmania all recording a fall week-on-week.
Geelong was the best performing non-capital city region last week, with 87.5 per cent of the 52 auctions successful.