This week, all of the busiest suburbs for auctions are in Victoria, topping the list with 20 scheduled auctions is Brunswick. Following closely with 18 scheduled auctions is Northcote, while Glen Iris and Reservoir will each host 17 auctions.
There are fewer auctions scheduled across the combined capital cities this week, after last week saw volumes reach their highest level so far this year (2,293). CoreLogic is currently tracking 2,095 capital city auctions this week, which is expected to be lower than results from one year ago when 3,026 auctions were held.
Both Melbourne and Sydney, Australia’s two largest markets are set to see fewer auctions take place this week, with 973 Melbourne homes currently scheduled to go under the hammer, down from 1,128 last week and 777 auctions scheduled across Sydney, decreasing from the 801 auctions held last week.
Adelaide, Brisbane and Perth are also expected to see a lower volume of homes taken to auction this week compared to last, while Canberra and Tasmania are expected to see an increase in auctions.
Last week, the combined capital cities saw auction volumes reach their highest so far this year with 2,293 held. The higher volumes returned a final auction clearance rate of 49.4 per cent, which was lower than the 51.2 per cent the previous week when volumes were lower (1,450).
Summary of Last Week's Results
Melbourne’s final auction clearance rate fell as volumes increased over the week, with a total of 1,128 auctions held across the city returning a 50.6 per cent rate of clearance. The week prior saw 657 auctions held across the city when 52.5 per cent sold.
In Sydney, a final auction clearance rate of 50.2 per cent was recorded across 801 auctions, down from the previous weeks 54.6 per cent when a lower 523 auctions were held.
Across the smaller auction markets, Canberra was the best performing in terms of clearance rate with 53.5 per cent of the 96 homes taken to auction selling. Perth returned the lowest clearance rate of 23.8 per cent (32 auctions).
Of the non-capital city auction markets, Geelong returned the highest final clearance rate of 48.5 per cent across 34 auctions, while the Gold Coast held the most auctions (47), however only 22.9 per cent cleared.