Auction activity is on the rise with 1,872 homes scheduled for auction across the combined capital cities this week, up 15.7% from last week when the Labour Day long weekend in ACT, NSW and SA, and the Queen’s Birthday long weekend in Qld saw fewer homes taken to auction (1,618). While volumes are up week-on-week, the week’s auction volumes are -30.9% down compared to this time last year when 2,708 auctions were held across the combined capital cities.

Across Melbourne, expected auction activity is set to fall -12.2% this week, with 731 homes currently scheduled for auction, down from 833 last week. This week’s scheduled auction activity is -45.9% lower than the same week last year when 1,351 auctions were held across Melbourne.

There are 752 homes set to go under the hammer across Sydney this week, rising 55.4% from last week when a combination of the Labour Day long weekend and the NRL Grand Final saw just 484 auctions held across the city. This time last year, 825 homes were auctioned across Sydney.

Adelaide is set to see 143 homes taken to auction this week, making it the busiest auction market amongst the smaller capitals, followed by Brisbane (120) and Canberra (117). Perth will see just nine homes taken to auction, while there are no auctions scheduled in Tasmania this week.

Summary of final results – week ending 02 October 2022

The combined capital city clearance rate came in at 59.7% last week, down from 60.0% the previous week. Although down slightly week-on-week, the clearance rate has held above 59.0% over the first five weeks of spring, after recording an average clearance rate of 55.3% over the winter months. This time last year, 83.2% of reported auctions were successful.

See the full CoreLogic Auction Preview here.  Watch the most comprehensive and up to date report on auction activity around Australia – powered by CoreLogic – with Eliza Owen every Monday exclusively on Realty Talk.  See all our shows at Realty.com.au