06 Sep Auctions trend lower
- Numbers fall W.O.W. and Y.O.Y.
- Clearance holds at 70%
- Smaller markets are patchy
Last week, there were 1,615 capital city homes auctioned, increasing from the week prior. The higher activity saw the final auction clearance right ease to 70%. Year on year volumes continue to trend lower each week. Volumes are down 7.6% on this time last year while clearance rates are tracking around 15% to 20% higher each week.
This week and weekend
Across the two largest auction markets of Melbourne and Sydney, volumes are expected to be lower week on week and year on year. This coming week Melbourne will host 694 auctions whilst Sydney will conduct 501. Adelaide, Brisbane and Perth are each expected to see fewer homes auctioned, while activity across Canberra is set to increase.
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.