Boban John
By Caitlin Fono, Research Analyst, CoreLogic Australia
There are currently 2,149 capital city homes scheduled for auction this week, down -13.1% on last week when 2,472 auctions were held. This time last year was the week leading up to Easter, so auction activity was much higher across the combined capitals (3,519).
In Melbourne, 980 homes are currently scheduled for auction this week, down from 1,192 last week and 1,760 this time last year.
There are 832 auctions scheduled in Sydney this week, compared to 893 last week. Over the same week last year, 1,199 homes were taken to auction across Sydney.
Across the smaller capitals, Brisbane is expected to be the busiest auction market with 148 homes set to go under the hammer, down slightly week-on-week (161). Adelaide is expected to see around 104 homes taken to auction, down from 122 last week, while Canberra is set to host 73 auctions this week, down from 87 last week. There are 11 auctions scheduled in Perth, down from 15 last week, while there is just one auction scheduled in Tasmania this week, compared to two last week.
There are currently around 2,670 homes scheduled to go under the hammer across the combined capitals next week, which is set to be the third largest number of auctions held in a week so far this year.
Summary of last week’s results
There were 2,472 homes taken to auction across the combined capital cities last week, up from 1,572 over the previous week and 2,834 over the same week last year.
The combined capital city clearance rate came in at 63.0% last week, compared to 62.3% over the previous week and 66.7% this time last year.
Across Melbourne, 1,192 homes were taken to auction last week, the third busiest auction week so far this year. The previous week saw 486 homes taken to auction (Labour Day long weekend), while this time last year, 1,483 homes went under the hammer across the city. Melbourne’s clearance rate came in at 63.8% last week, up from 60.5% over the previous week. This time last year, 66.4% of reported auctions were successful.
There were 893 homes taken to auction across Sydney last week, and like Melbourne, this was the third busiest auction week of the year so far. The previous week saw 842 homes taken to auction, while this time last year, 873 auctions were held across the city. Sydney’s final clearance rate came in at 64.3% last week, compared to 64.0% over the previous week. This time last year, 66.5% of homes taken to auction across Sydney were successful.
Brisbane (161) was the busiest auction market across the smaller capitals last week, followed by Adelaide (122), Canberra (87) and Perth (15). Adelaide recorded the highest clearance rate at 68.6%, which was the strongest result the city has seen all year. Perth recorded a clearance rate of 66.7%, while 52.2% of auctions across Brisbane were successful. There were two auctions in Tasmania last week, both were unsuccessful.
