02 Aug VIDEO – Buyers boost market
- Sydney and Melbourne on fire
- National auction numbers falter
- Highest clearance in 2 years
The last reporting week of July sees the final weighted average clearance rate reach its highest level in two years, with 68.6 per cent of capital city homes selling at auction over the week, increasing on the week prior when 65.4 per cent of homes sold.
This week and weekend
There are 1,014 capital city homes scheduled to go under the hammer this week, down 10 per cent on last week when 1,124 auctions took place, and lower than the 1,324 auctions held over the same week last year.
Across the two largest auction markets of Melbourne and Sydney, volumes are expected to be down week-on-week and year-on-year.
There are 460 scheduled auctions across Melbourne this week and in Sydney, 352 homes are set for auction this week.
Adelaide, Brisbane and Canberra are all expected to see a higher number of homes taken to auction week-on-week, while activity across Perth will remain steady and Tasmania has only one scheduled auction this week.
Adelaide and Perth are the only auction markets to see a higher number of homes taken to auction this week compared to the same week one year ago.
Watch for Kevin Brogan’s thoughts about the weekend ahead and the numbers around the country and then join him on Monday as he gives the most comprehensive national roundup of the full week’s activity and a look inside the top sales in 6 capital cities.