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The busiest suburb for auctions this week is the Melbourne suburb of Bentleigh East, with 19 homes set to go under the hammer, followed by the Sydney suburbs of Maroubra and Paddington with 18 and 17 auctions scheduled respectively.
Upcoming Auctions
The combined capital cities are expected to see a higher volume of auctions this week with CoreLogic currently tracking 2,156 auctions, up from 1,450 last week. The same week last year was much busier with 3,313 homes taken to auction.
Melbourne is the busiest city for auctions this week, with 1,049 auctions being tracked so far, increasing from 657 last week although lower than this time last year when 1,606 homes were taken to auction across the city.
Sydney has 763 auctions scheduled this week, up from 523 last week. Over the same week last year Sydney was host to 1,259 auctions.
Across the smaller auction markets, Adelaide, Brisbane and Canberra will see auction volumes rise over the week while Perth and Tasmania will see fewer homes taken to auction week-on-week.
Last week saw the final clearance rate hold above 50 per cent for the second week in a row across the combined capital cities with 1,450 homes taken to auction, returning a final clearance rate of 51.2 per cent. Over the previous week 928 homes were taken to auction across the combined capitals returning a similar clearance rate of 51.1 per cent. Over the same week last year 1,992 homes were taken to auction and a clearance rate of 66.1 per cent was recorded.
Summary of Last Week's results
Melbourne was the busiest city in terms of auction activity with 657 homes taken to auction, returning a final clearance rate of 52.5 per cent. Over the previous week, just 350 auctions were held and the clearance rate was recorded at a similar 52.4 per cent. This time last year, 932 homes were taken to auction across the city and a stronger clearance rate was recorded (69.8 per cent).
There were 523 homes taken to auction in Sydney last week returning a clearance rate of 54.6 per cent, while over the previous week, 322 homes were taken to auction and a clearance rate of 54.0 per cent was recorded. This time last year 737 auctions were held returning a clearance rate of 67.8 per cent.
Across the smaller auction markets, clearance rates improved across Adelaide, while Brisbane, Canberra and Perth saw a fall in clearance rates week-on-week.
Of the non-capital city auction markets, the Gold Coast had the highest volume of auctions (40) last week, while the Hunter region was the best performing in terms of clearance rates with 44.8 per cent of reported auctions recording a successful result.
