Last week saw 2,164 homes taken to auction across the combined capital cities, returning a final auction clearance rate of 50.9 per cent, unchanged from the previous week when 1,667 auctions were held.
Melbourne was the busiest city in terms of auction activity with 978 homes taken to auction, returning a final clearance rate of 52.1 per cent. There were 801 homes taken to auction in Sydney last week returning a clearance rate of 54.3 per cent.
This week and weekend
Auction volumes are expected to fall across the combined capital cities this week with CoreLogic currently tracking 1,862 auctions, down from 2,164 last week, although volumes are similar to this time last year when 1,839 homes were taken to auction.
In Melbourne, Australia’s largest auction market, the number of scheduled auctions has fallen week-on-week with 840 homes set to go under the hammer across the city, down from 978 last week. Over the same week last year, 723 auctions were held.
Sydney is expecting to see fewer properties taken to auction this week with 700 homes currently scheduled to go under the hammer across the city, down from 801 last week and 795 last year.
Across the smaller auction markets, Canberra, Perth and Tasmania are expecting to see an increase in auction volumes week-on-week, while activity is set to be lower in Adelaide and Brisbane.
Watch for Geoff White’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.