Mill Park in Victoria is the busiest individual suburb for auctions this week, with 11 homes scheduled to go under the hammer, followed by Craigieburn and Epping each with 10 auctions scheduled.
This week, the number of homes scheduled to go to auction is set to increase across the combined capital cities with 974 currently being tracked by CoreLogic, up from last week when only 394 auctions were held over the Easter period slowdown.
Melbourne is expected to see the most significant increase in volumes this week, with 476 properties scheduled for auction, up from the 50 auctions held last week. In Sydney, 319 homes are set to go to auction this week, increasing on the 221 held last week.
Outside of Sydney and Melbourne, the remaining capital cities will see a higher number of auctions this week compared to last week, with the exception of Canberra where there are fewer auctions scheduled.
Summary of Last Week’s results
Last week’s Easter period slowdown saw 394 homes taken to auction across the combined capital cities, this was down significantly on the week prior when 2,276 auctions took place, which was the second busiest week for auctions so far this year. The lower volumes last week returned a final auction clearance rate of 43.9 per cent, not only falling from the week prior when 52.2 per cent of homes sold, but marking the second lowest clearance rate over the year to date.
There were only 50 Melbourne homes auctioned last week, returning a final auction clearance rate of 63.2 per cent. Sydney had the highest volume of auctions of all the capital city auction markets last week, with 221 held and a clearance rate of 46.3 per cent, falling on the previous week’s 55.8 per cent across a higher 929 auctions.
Clearance rates fell week-on-week across the smaller auction markets, with Canberra returning the strongest result with 43.8 per cent of auctions clearing.
Across the non-capital city auction markets, the Hunter region recorded the strongest clearance rate last week with 26.7 per cent of the 20 auctions reporting as successful.