15 Nov Auction market in ‘cruise’ mode
Last week, 2,412 capital city homes were taken to auction; a 55.1% rise in volumes over the week (1,555). The higher volumes returned a final auction clearance rate of 70.6%, after the week prior saw the final clearance rate fall below 70%.
This week and weekend
Auction activity is expected to remain relatively steady week-on-week across the combined capital cities, with CoreLogic currently tracking 2,439 auctions this week.
Last week, 2,412 capital city homes were taken to auction and one year ago a higher 2,745 auctions were held.
There are 1,169 Melbourne homes scheduled for auction this week, Sydney will see 891 and across the smaller auction markets, volumes are set to rise in Adelaide (23.9%), while volumes are down in Brisbane (-21.5%), Canberra (-32.4%) and Perth (-25.5%). Tasmania has 5 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.