There are fewer homes scheduled for auction this week across the combined capital cities, with CoreLogic currently tracking 2,099 auctions, down on the 2,467 auctions held last week, although higher than the 413 held one year ago.
Auctions this week
Volumes are set to be lower across the two largest auction markets this week.
In Melbourne, there are 933 homes set to go under the hammer, down -23.6% on last week’s volumes. Although higher than the 144 held one year ago.
Scheduled auction volumes are expected to be down by 11.6% in Sydney this week, with 812 homes scheduled for auction. One year ago, 192 auctions took place across the city.
Despite the smaller cities welcoming a long weekend with the ANZAC day public holiday Monday; which usually sees volumes drop, scheduled volumes are up in Adelaide and Brisbane. While the remaining capital cities have fewer scheduled auctions this week.
Summary of last week’s results
The combined capital city final auction clearance rate improved as volumes rose last week. There were 2,467 homes taken to auction over the week, returning a final auction clearance rate of 78.6%. Over the previous week a lower 2,199 auctions took place with 76.8% clearing. One year ago during a period of COVID induced restrictions, 1,922 auctions were scheduled to take place, however a large proportion of these were withdrawn, resulting in a final auction clearance rate of 30.2%.
Capital city auction statistics (Final)- w/e 18 April 2021
In Melbourne, 1,221 homes were taken to auction last week, returning a final auction clearance rate of 77.3%, improving on the 72.5% the previous week when volumes were lower (1,059). One year prior, 1,016 Melbourne auctions were scheduled with only 27.9% selling.
The final clearance rate across Sydney came in at 81.5% last week, across 919 auctions. This was only slightly higher than the prior week when 81.4% of the 821 auctions sold. Last year, a final auction clearance rate of 33.8% was recorded across 735 auctions.
Across the smaller cities, Canberra recorded a final auction clearance rate above 90% for the fourth consecutive week to make up six out of the past seven weeks above this mark. Making it the most successful capital city auction market, in terms of highest clearance rate, for another week. Adelaide was next in line with 72% of homes selling at auction.