By Caitlin Fono, Research Analyst, CoreLogic Australia

There are 2,043 capital city homes currently scheduled for auction this week, up 8.0% from last week (1,891) and just 0.3% higher than the same week last year (2,037). If all of these auctions go ahead, it will be the busiest auction week since 23rd June (2,150).

Melbourne is set to be the busiest auction market, with 858 homes currently scheduled for auction, compared to 897 last week and 841 this time last year. 

There are 783 auctions scheduled in Sydney, up from 645 last week. This is set to be the busiest week the city has seen since the week ending 23rd June (844). Over the same week last year, 818 homes were taken to auction.

Looking at the smaller capitals, Brisbane is set to see 159 homes taken to auction, followed closely by Adelaide where 143 auctions are currently scheduled. Canberra is expecting 86 homes to be taken under the hammer this week, while there are 13 auctions scheduled in Perth and just one scheduled in Tasmania.

Next week will see auction activity rise further, with around 2,130 homes currently scheduled for auction across the combined capitals.

Summary of last week’s results

Last week saw 1,891 homes taken to auction across the combined capitals, up 6.4% from the previous week (1,778). Over the same week last year, 1,929 auctions were held. The combined capital city final clearance rate came in at 63.5%, down -50 basis points from the previous week (64.0%) and -1.2 percentage points lower than this week last year (64.7%).

In Melbourne, 897 homes were taken to auction last week, up 7.6% on the previous week (834). This was the busiest auction week the city has seen since the week ending 23rd June (975). Melbourne’s final clearance rate came in at 62.3%, up 60 basis points on the previous week (61.7%). One year ago, 877 homes were taken to auction across the city and a clearance rate of 60.6% was recorded.

There were 645 homes taken to auction across Sydney last week, up 5.4% on the week prior (612) and -15.7% lower than this time last year (765). Sydney’s final clearance rate came in at 61.2%, down -3.6 percentage points on the previous week (64.8%) and -7.2 percentage points lower than this time last year (68.4%). 

Adelaide (150) was the busiest auction market across the smaller capitals last week, followed by Brisbane (144), Canberra (43) and Perth (11). Adelaide recorded the highest clearance rate at 81.1%, followed by Perth (72.7%), Brisbane (65.3%) and Canberra (55.8%). There was just one auction held in Tasmania last week which was unsuccessful.