Boban John
By Caitlin Fono, Research Analyst, CoreLogic Australia
There are currently 2,574 capital city homes scheduled for auction this week, down -6.4% on last week when 2,751 auctions were held, and -3.4% lower than this time last year (2,665).
In Melbourne, 1,144 homes are currently scheduled for auction this week, down -20.4% on last week when 1,437 auctions were held, and -15.4% lower than the same week last year (1,352).
Sydney is expecting to see auction activity rise above 1,000 for the first time since the week ending 1 December 2024, with 1,010 Sydney homes currently scheduled for auction. This is up 9.5% on last week (922) and 12.5% higher than this time last year (898).
Across the smaller capitals, Brisbane is expected to be the busiest auction market with 188 homes set to go under the hammer, up 36.2% week-on-week (138). Adelaide is expected to see around 148 homes taken to auction, two more than last week (146), while Canberra is set to host 70 auctions this week, down -23.1% on last week when 91 auctions were held. There are 11 auctions scheduled in Perth, down from 16 last week, while there are three auctions scheduled in Tasmania this week, compared to just one last week.
There are around 1,550 capital city homes currently scheduled for auction next week. The drop in volume can be attributed to the upcoming long weekend in four of the eight states and territories.
Summary of last week’s results
There were 2,751 homes taken to auction across the combined capital cities last week, up 44.3% on the previous week (1,907), making it the busiest week for auctions since early December (2,881). While up week-on-week, there were fewer homes taken to auction last week than there was this time last year (2,853).
The combined capital city clearance rate held above the 60% mark for the third consecutive week, coming in at 64.1%, up from 63.8% over the previous week. This time last year, a clearance rate of 68.2% was reported.
Across Melbourne, 1,437 homes were taken to auction last week, the highest volume since the week ending 27 October 2024 (1,675). The previous week saw 815 homes taken to auction, while this time last year, 1,457 homes went under the hammer across the city. Melbourne’s clearance rate came in at 64.5% last week, up from 63.7% over the previous week, while this time last year, 64.7% of auctions were successful.
There were 922 homes taken to auction across Sydney last week, compared to 767 over the previous week and 984 this time last year. Sydney’s final clearance rate has held above 65.0% for three consecutive weeks, coming in at 65.3% last week, down from 67.2% over the previous week. This time last year, 72.2% of homes taken to auction across Sydney were successful.
Adelaide (146) was the busiest auction market across the smaller capitals last week, followed by Brisbane (138), Canberra (91) and Perth (16). Perth recorded the highest clearance rate at 68.8%, followed by Adelaide (66.4%), Canberra (59.3%) and Brisbane (52.2%). Only one auction was held in Tasmania last week, which was successful.
