31 May VIDEO – Final clearance rate holds up
- Brave sellers rewarded last week
- Uncertainty reflected in auction numbers
- Low numbers will increase competition
The combined capital cities returned a 57.7 per cent final auction clearance rate last week, which was the strongest final result seen in over 12 months. The improved clearance rate was across a higher volume of auctions over the week, with a total of 2,055 homes taken to auction.
This week and weekend
This week, the number of auctions scheduled to take place across the combined capital cities is expected to be lower, with 1,556 currently being tracked by CoreLogic, down 24 per cent on last week when 2,055 homes were taken to auction. Compared to one year ago, a higher 2,281 homes were auctioned over the same week in 2018.
Melbourne is expected to be the busiest auction market again this week, however volumes are down on last week, with 684 homes scheduled for auction across the city, down on the 968 auctions held last week at final figures.
In Sydney, volumes are also set to be down week-on-week, with 639 scheduled auctions, down from the 707 homes taken to auction last week.
There are fewer auctions scheduled across all of the remaining capital cities this week, with the largest decrease expected to be across Adelaide where volumes are down almost 52 per cent.
Watch for Geoff White’s thoughts about the weekend ahead and the numbers around the country and then join us on Monday as we provide the most comprehensive national roundup of the full week’s activity and a look inside the top sales.