This week, all of the busiest suburbs for auctions are in Victoria. Reservoir tops the list with 17 homes set to go under the hammer, followed by Glen Waverley with 14 and Craigieburn with 13 auctions scheduled.
The combined capital cities are set to see a lower volume of auctions this week with CoreLogic currently tracking 1,736 auctions, down from the 2,002 held last week.
Auctions This Week
Melbourne is the busiest city for auctions again this week, with 879 auctions being tracked so far, however volumes are expected to be down slightly on last week’s final figures which saw 992 auctions held across the city.
Volumes across Sydney are also set to fall with 612 homes scheduled for auction this week, down on last week’s 708 auctions held at final figures.
All of the remaining auction markets are expected to see fewer auctions held this week compared to last, with the exception of Tasmania where volumes are to remain relatively steady; however very subdued.
Summary of Last Week's Results
Capital City Auction Statistics (Final)
Last week, a total of 2,002 auctions were held across the combined capital cities increasing on the week prior when auction activity was significantly lower over the Queen’s birthday long weekend (904). The higher volumes last week saw the weighted average clearance rate weaken further; marking the 6th consecutive week of declines across the combined markets, returning a 52.4 per cent final auction clearance rate. A much lower result than last year’s 66.7 per cent clearance rate when volumes were higher (2,444).
Weekly Clearance Rate, Combined Capital Cities
In Melbourne, both the final clearance rate and volumes increased last week, with 992 homes taken to auction returning a 56.2 per cent success rate, increasing on the 54.9 per cent over the week prior when volumes were substantially lower (275).
Across Sydney, 708 homes were taken to auction last week with just over half failing to sell. A final clearance rate of 49.4 per cent was recorded last week, falling from the 56 per cent over the previous week when fewer auctions were held (415).
Perth saw an improvement in clearance rate week-on-week, while Adelaide, Brisbane and Canberra’s final clearance rate fell.
GOf the non-capital city auction markets, Geelong returned the highest final clearance rate once again, with a success rate of 80.7 per cent across 41 auctions.