09 Aug “Still a winter market” – Kevin Brogan
- Brisbane the big improver
- Smaller capitals still performing
- Syd and Melb clear over 70%
Last week, a final auction clearance rate of 66.4 per cent was recorded across the combined capital cities, falling on the week prior when the final clearance rate reached its highest level in two years (68.6 per cent).
The lower clearance rate over the week was across a similar volume of auctions with 1,108 homes taken to market. While slightly fewer homes sold at auction last week, the weighted average has remained above 65 per cent for four consecutive weeks now.
This week and weekend
There are 1,044 capital city homes scheduled for auction this week, with auction activity expected to remain somewhat steady on last week, when 1,108 homes went to auction. Over the same week last year a higher 1,402 auctions were held across the combined capital cities.
Melbourne has 471 auctions scheduled across the city this week, down 5.8 per cent on last week when 500 homes were auctioned.
Volumes are set to be lower week-on-week across Sydney this week, with 351 homes scheduled for auction, down on the 386 auctions held last week.
Across the smaller auction markets, scheduled auction volumes are lower across Adelaide and Brisbane, while Perth and Tasmania are set to see an increase in activity 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