This week there are 1,163 capital city auctions being tracked by CoreLogic, up from 1,084 auctions last week, although lower than the 1,955 held over the same week last year
The Melbourne auction market is set to see a significant rise in activity this week, after a very sedate few months during lockdown restrictions. This week is expected to be the busiest week for auctions since the week ending 23rd Aug. There are 192 properties scheduled for auction across the city, up on the 59 homes auctioned last week. However, with on-site auctions not permitted until October 26th, volumes remain significantly lower than one year ago (915). Once again, Sydney accounts for more than half of all auction activity this week. There are 726 homes scheduled for auction over the week, down on the 751 last week and virtually the same as volumes from over the same week last year (727). Across the smaller auction markets, Adelaide and Brisbane both have 79 scheduled auctions this week, making them equal busiest of the smaller cities. Canberra will host 62 auctions this week, Perth 23 and Tasmania 2.
Last week, the final weighted average clearance rate improved across higher volumes. There were 1,084 capital city homes scheduled for auction last week, higher than the 648 over the previous week.
Of the 1,075 reported results last week, 66.4% returned a successful result, increasing on the 64.4% final clearance rate achieved over the week prior.
Realty broadcasts the most comprehensive and up to date report on auction activity around Australia every Monday with Eliza Owen – powered by CoreLogic exclusively on Realty Media’s Real Estate Talk. See all our shows at Realty.com.au