This week, all of the busiest suburbs for auctions are in Victoria, topping the list with 25 scheduled auctions is Glen Waverley, followed by Glen Iris (18) and Reservoir (17), while Bentleigh East and St Kilda each have 16 auctions scheduled.
Auction activity across the combined capital cities is expected to remain relatively steady week-on-week, with a total of 2,610 homes scheduled for auction this week, down only slightly on last week when 2,701 auctions took place.
Melbourne will see a higher volume of auctions take place this week, with volumes increasing by 14.5 per cent on last week. There are 1,296 homes scheduled for auction across the city, up on last week when 1,132 auctions were held.
There are fewer auctions scheduled this week in Sydney, with 904 homes scheduled to go under the hammer, after last week saw over 1,000 homes taken to auction across the city.
Perth and Tasmania are expected to see a higher number of homes auctioned this week, while volumes are down in Adelaide, Brisbane and Canberra.
Summary of Last Week's results
The combined capital city final auction clearance rate came in at 41.9 per cent last week, slightly lower than the previous week’s 42.0 per cent; the lowest results since June 2012. Last week marks the 9th consecutive week where less than 50 per cent of the homes taken to auction have sold. Last year, 61.1 per cent of homes sold at auction when volumes were significantly higher (3,438).
Across Melbourne, auction volumes fell with 1,132 auctions held, returning a final auction clearance rate of 41.4 per cent. Over the week prior, 1,401 Melbourne homes were taken to auction returning a final clearance rate of 41.3 per cent. One year ago, 1,215 auctions took place, returning a much higher clearance rate of 65.5 per cent.
In Sydney, the final auction clearance rate rose to 44.8 per cent last week, from 42.8 per cent the previous week. There were 1,035 auctions held last week, increasing from the 875 the previous week, however lower than the 1,215 Sydney auctions held last year when a higher 56.8 per cent sold.
While volumes increased across Adelaide, Brisbane and Canberra last week, clearance rates fell across all of the smaller auction markets.
CoreLogic, on average, collects 90% of auction results each week. Clearance rates are calculated across properties that have been taken to auction over the past week.