Auction clearance ticks back up

Auction clearance ticks back up

  • Auction numbers slow in Melbourne
  • Sydney slows but steady YOY
  • Perth rallies

Last week

There were 2022 homes taken to auction last week across the combined capital cities which was the busiest week we’ve seen since last May. The higher volumes saw the weighted average clearance rate improve over the week with 73.5% of auctions returning a successful result.

This week and weekend

There are 1,828 capital city homes set to go under the hammer this week, down on last week’s 2,022 and last year’s 2,139 auctions held as at final figures.

Melbourne is expected to see 854 homes auctioned this week, down from the 974 auctions held last week, and lower than the 1,087 homes taken to auction one year ago.

Auction activity is also expected to be lower week-on-week in Sydney, however, volumes are set to remain somewhat steady year-on-year.  There are 684 properties scheduled for auction across the city this week, down from final figures last week (733) and 9 extra auctions compared to the same week last year.

Across the smaller auction markets,  Perth is the only capital city set to see a higher number of auctions take place this week compared to last, with volumes lower in Adelaide (-15.9%), Brisbane (-4.0%), and Canberra (-6.8%). Tasmania has only 2 scheduled auctions this week.

 

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.

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Kevin Turner
kevin@realestatetalk.com.au
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