The busiest suburbs for auctions across the nation this week are in:
- Reservoir (Vic) - 23 auctions
- Mount Waverley (Vic) – 19 auctions
- Bentleigh East & Doncaster East (Vic) – 16 auctions each
CoreLogic is currently tracking 2,369 auctions across the combined capital cities this week, down from 2,590 over the previous week and 2,701 over the same week last year.
There are just under 1,100 auctions scheduled in Melbourne this week, compared to 1,242 last week and 1,132 this time last year.
Sydney is set to see auction volumes fall week-on-week, with 866 homes scheduled to go under the hammer this week, down from 947 last week, while one year ago, 1,035 auctions were held across the city.
As for the smaller auction markets, Brisbane and Canberra will see auction volumes increase week-on-week, while Adelaide, Perth and Tasmania will see fewer auctions.
Summary of Last Week’s results
Last week was the 2nd busiest auction week of the year with 2,590 homes taken to auction across the combined capital cities, returning a final clearance rate of 70.1 per cent. In comparison, there were 2,412 homes taken to auction over the previous week and a final clearance rate of 70.6 per cent was recorded. One year ago, auction volumes were higher with 2,745 homes taken to auction, however the clearance rate was significantly lower with just 42.0 per cent of auctions returning a successful result.
Melbourne saw 1,242 homes go under the hammer last week, with final results showing a clearance rate of 74.3 per cent, up from 71.7 per cent across 1,032 auctions over the previous week. Over the same week last year, 1,401 auctions were held across the city, returning a clearance rate of 41.3 per cent.
In Sydney, a final auction clearance rate of 71.9 per cent was recorded across 947 auctions last week, down from 76.8 per cent across 948 auctions over the previous week. This time last year, 875 auctions were held across Sydney and a clearance rate of 42.8 per cent was recorded.
Across the smaller auction markets, auction volumes were lower across Brisbane, Canberra and Perth week-on-week, while Adelaide saw an additional 35 homes taken to auction.