By Caitlin Fono, Research Analyst, Cotality (Formerly CoreLogic) 

There are currently 3,158 homes scheduled to go under the hammer across the combined capitals this week, down -7.8% on last week (3,427), though 20.7% higher than this week last year (2,617). As we approach the end of the year, we expect to see auction numbers decline, with approximately 2,800 homes scheduled for auction across the combined capitals next week.

In Sydney, 1,144 homes are scheduled for auction this week, down -8.4% on last week when Sydney recorded its second-busiest auction week of the year (1,249). This time last year, 927 homes were taken to auction across the city.

There are 1,515 homes scheduled for auction in Melbourne this week, down -7.8% on last week (1,643). Like Sydney, last week was Melbourne’s second-busiest auction week of the year. Over the same week last year, 1,236 homes were taken under the hammer.

Auction activity is set to fall across all the smaller capitals this week, except for Perth. Brisbane will be the busiest auction market among the smaller capitals, with 195 homes scheduled to go under the hammer, down from 209 last week. Adelaide is set to host 163 auctions, down from 187 last week, while there are 111 homes scheduled for auction in Canberra, down from 112 last week. There are 28 auctions scheduled in Perth this week, up from 23 last week, while just two homes are being taken under the hammer in Tasmania this week, down from four last week.

Summary of last week’s results

There were 3,427 homes taken to auction across the combined capitals last week, marking the busiest auction week since the lead up to Easter 2024 (3,519). The previous week saw 2,964 homes taken to auction, while this time last year, 2,881 auctions were held.

The combined capital city clearance rate came in at 60.9% last week, overtaking the previous week (62.9%) as the lowest since the week ending 8th June (60.7%). This time last year, 59.1% of reported auctions were successful across the combined capitals.

There were 1,643 auctions held in Melbourne last week – the second-busiest auction week of the year. The previous week saw 1,355 homes taken to auction, while this time last year, 1,390 auctions were held across the city. Melbourne’s clearance rate slipped to 60.6% last week – the lowest clearance rate since late-April (60.5%). A clearance rate of 63.4% was recorded the previous week, while this time last year, 61.7% of reported auctions were successful.

In Sydney, 1,249 homes went under the hammer last week, and like Melbourne, it was the second-busiest auction week of the year for the city. Last week’s auction numbers were up from 1,140 over the previous week and 1,031 this time last year. Sydney’s final clearance rate slipped below 60% for the first time in 25 weeks, coming in at 58.5% last week, down from 61.1% over the previous week. This time last year, 58.2% of reported auctions were successful.

Across the smaller auction markets, Adelaide recorded the highest clearance rate last week, coming in at 75.9%, up from 72.4% the week prior. Brisbane’s clearance rate came in at 62.7%, down from 66.7% over the previous week, while Canberra’s clearance rate was close behind at 62.5%, up from 57.3%. In Perth, 60.9% of auctions were successful, up from 56.3% the previous week, while two of the four auctions in Tasmania last week were successful.

Brisbane was the busiest auction market across the smaller capitals last week with 209 homes taken to auction, up from 183 the week prior. There were 187 auctions held in Adelaide last week, up from 146, while 112 homes went under the hammer in Canberra last week, down from 124. In Perth, 23 auctions were held last week, up from 16 over the previous week.