Auction activity continues to rise with 2,465 homes currently scheduled for auction across the combined capital cities this week, the busiest auction week since mid-June (2,528). While this week’s scheduled auction activity is up 7.3% on last week’s numbers (2,298), it is -42.0% lower than this time last year when CoreLogic recorded its third busiest auction week since records commenced in 2008 (4,251).
Melbourne auction volumes are set to hold around 1,000 for the second consecutive week, with 1,009 homes currently scheduled for auction across the city, in line with the 1,008 auctions held last week. This week’s auction activity is -47.2% lower than the same week last year when 1,910 homes were taken to auction across Melbourne.
There are 992 homes currently scheduled for auction across Sydney this week, the busiest auction week the city has seen since May (1,109). This week’s auction volumes are 27.5% higher than last week (778) but -35.8% below the number of auctions held this time last year (1,546).
Across the smaller capitals, Brisbane and Canberra each have 149 homes scheduled for auction this week, followed closely by Adelaide (147). In Perth, 15 homes are set to go under the hammer, down from 29 last week, while four auctions are expected in Tasmania this week, up from just one last week.
Summary results – week ending 20 November 2022
Last week 2,298 homes went to auction across the combined capital cities, up 5.9% from the previous week. After three consecutive weeks of clearance rates below 60%, the combined capital city clearance rate rose to 60.2%, partially due to a 5.8 percentage point bump in Sydney’s clearance rate.