The busiest capital city suburbs for auctions this week are all in Victoria:
- Craigieburn - 19 auctions
- Bentleigh East – 18 auctions
- Richmond – 16 auctions
The combined capital cities are expected to see a lower volume of auctions take place this week with CoreLogic currently tracking 2,628 auctions, down from 3,206 last week and similar to the 2,631 last year.
There are 1,352 Melbourne homes scheduled for auction this week, lower than last week’s final figures (1,533), however higher than volumes from one year ago (1,283).
In Sydney, 891 homes are currently scheduled for auction this week, down from 1,221 last week and higher than the same week last year when 870 auctions were held.
Across the smaller auction markets, scheduled volumes are set to be lower week-on-week across all cities except Adelaide where there is one additional auction compared to last week.
Summary of Last Week’s results
Last week, 3,206 homes were taken to auction across the combined capital cities; the busiest week for auctions we’ve had this year. The higher volumes saw the final clearance rate rise with 73.6 per cent of homes selling at auction, after last week’s final clearance rate dropped below 70 per cent across a lower volume of auctions (68.5 per cent, 2,612 auctions). In comparison, this time last year, 2,749 homes went to auction and a clearance rate of 41.3 per cent was recorded.
Melbourne’s final clearance rate was recorded at 74.8 per cent across 1,533 auctions last week, improving on the 70.1 per cent final clearance rate the previous week across a lower 1,221 auctions. Over the corresponding week last year 1,378 Melbourne homes were auctioned and a lower clearance rate was recorded (42.7 per cent).
Sydney’s final auction clearance rate came in at 78.1 per cent across 1,221 auctions last week, up from the 76 per cent across a lower 940 auctions over the previous week. Over the same week last year, 937 Sydney homes went to auction returning a clearance rate of 41.6 per cent.
Across the smaller auction markets, Tasmania and Canberra were the best performing in terms of clearance rate with 75 per cent and 71.8 per cent of auctions clearing respectively.