This week, all of the busiest capital city suburbs for auctions are in Melbourne. Cheltenham tops the list with 15 homes scheduled for auction, followed by Craigieburn and Northcote each with 14 scheduled auctions.
The combined capital cities are expected to see a higher number of homes taken to auction this week with CoreLogic currently tracking 2,048 auctions, up from 1,667 last week and 670 over the same week last year (Easter).
Melbourne is set to see volumes increase over the week, with 919 auctions being tracked so far, up from last week when 814 auctions were held.
In Sydney, 770 homes are currently scheduled for auction this week, increasing from the 506 homes auctioned last week.
Across the smaller auction markets, Brisbane is expected to be the only other capital city to see a rise in volumes week on week, with activity set to be lower in Adelaide, Canberra, Perth and Tasmania.
Summary of Last Week's results
Last week saw 1,667 homes taken to auction across the combined capital cities, returning a final auction clearance rate of 50.9 per cent, down from 51.4 per cent across a higher 1,875 auctions the previous week. Over the same week last year, 3,990 (pre-Easter) homes went to auction and a clearance rate of 62.7 per cent was recorded.
Melbourne’s final clearance rate was recorded at 55.1 per cent across 814 auctions last week, compared to 52.1 per cent across 920 auctions over the previous week. This time last year 2,071 homes were taken to auction across the city and a stronger clearance rate was recorded (65.8 per cent).
Sydney’s final auction clearance rate came in at 52.1 per cent across 506 auctions last week, down from 54.2 per cent across 638 auctions over the previous week. Over the same week last year, 1,383 homes went to auction returning a clearance rate of 61.1 per cent.
Across the remaining capital cities, Canberra returned the highest clearance rate of 48.3 per cent, followed by Adelaide where 46.3 per cent of homes sold at auction.
Of the non-capital city auction markets, the Geelong region was the best performing in terms of clearance rate, with 54.6 per cent of auctions successful.