There are 3,162 capital city homes set to go under the hammer this week, increasing by 11% on last week’s 2,838 auctions held.

This week’s volumes are expected to surpass the 3,016 auctions held in early May as the second busiest week of 2021.

Auctions this week

Almost half of all activity is in Melbourne this week with 1,451 homes scheduled for auction, up on the 1,291 auctions held last week, and the 261 last year.

In Sydney, 1,219 homes are to be auctioned across the city this week, up on the 1,103 last week and the 452 one year ago.

Brisbane is set to be the busiest of the smaller auction markets this week, with 200 homes currently scheduled for auction, up on the 142 last week. Adelaide follows with 160 auctions scheduled to take place, steady on the previous week’s final volumes. Meanwhile scheduled volumes are down in Canberra (95) and Tas (3), and up in Perth (34).

Summary of last week’s results

There were 2,838 capital city homes taken to auction last week, returning a final auction clearance rate of 75.6%. Which happened to be the lowest clearance rate this year for the combined capital cities. The previous week saw a higher 2,905 auctions take place with 77% successful. One year ago, throughout the period of COVID restrictions, 612 auctions were held with a final auction clearance rate of 62.7%.

Capital city auction statistics (Final)- w/e 23 May 2021

Clearance rates were down across each of the individual markets this week.

In Melbourne, 1,291 properties were auctioned last week returning a final auction clearance rate of 74.9%, down on the 75.4% across 1,345 auctions the previous week. 

Sydney was host to 1,103 auctions over the week with a final success rate of 76.9%. The previous week there were 1,150 auctions and a final clearance rate of 78.9%.

Across the smaller cities, Canberra was the best performing in terms of clearance rates with 86.1% of homes selling at auction across the city, followed by Adelaide (77.6%), Brisbane (64.8%) and Perth (59.1%).