The busiest suburbs for auctions across the nation this week are all in Victoria:
- Reservoir- 19 auctions
- Mount Waverley- 15 auctions
- Craigieburn - 13 auctions
- Melbourne - 12 auctions
Auction activity is expected to remain relatively steady week-on-week across the combined capital cities, with 1,236 homes scheduled to go under the hammer this week, compared to last week’s 1,278 auctions held. Over the same week one year ago, a higher 1,817 capital city homes were auctioned.
Melbourne is set to see volumes pick up this week, with 724 homes scheduled for auction, after volumes dipped significantly last week amid the AFL grand final hype (107).
In contrast to Melbourne, Sydney is expected to see fewer homes auctioned this week as the NRL grand final excitement takes over the city. There are 297 auctions scheduled across the city, down on last week when volumes reached their highest level in almost a year (Nov-18) with 950 auctions held.
Across the smaller capital cities, Perth is the only auction market expected to see a rise in volumes over the week, with activity lower by varying degrees in Adelaide (-22.9%), Brisbane (-1.2%), Canberra (-47.3%), while Tasmania has no auctions scheduled this week.
Summary of Last Week’s results
There were 1,278 homes taken to auction across the combined capital cities last week, returning a final auction clearance rate of 71 per cent; the seventh consecutive week above the 70 per cent mark. Volumes however, were lower week-on-week across the combined cities with 1,983 auctions held the previous week when a lower 70.7 per cent cleared.
Melbourne held a very subdued 107 auctions last week, over what was the AFL grand final week, which historically sees auction activity brought to halt. The lower volumes saw the final clearance rate edge above 80 per cent, up from the 75.6 per cent over the previous week when volumes were substantially higher (1,020).
There were 950 homes taken to auction in Sydney last week; the busiest week the city has seen since November last year. The higher volumes returned a final auction clearance rate of 74.5 per cent, which was an improvement on the week prior when a 72.7 per cent success rate was recorded across fewer auctions (646). One year ago, 608 Sydney homes were auctioned over the same week with only 43.8 per cent returning a successful result.
Canberra was the best performing across the smaller auction markets last week, with 58.3 per cent of homes selling, while only 45.2 per cent of auctions were successful across Brisbane, making it the worst performing auction market last week.