There are 2,124 capital city homes currently scheduled for auction this week, down -6.7% from last week when 2,276 auctions were held. While down week-on-week, the number of auctions set to take place this week is 18.6% higher than the same week last year (1,791).

There are 941 auctions scheduled in Melbourne this week, down -13.1% from last week (1,083) and 26.5% higher than this time last year (744).

Sydney is set to see 866 homes taken to auction this week, up 6.7% from last week when 812 auctions were held, and 19.6% higher than this week last year (724).

Across the smaller capitals, Brisbane is set to host the most auctions this week (128), down from 192 last week and 134 this time last year. There are 120 auctions scheduled in Adelaide, up from 115 last week and 101 last year, while Canberra is set to host 54 auctions, down from 57 last week and 78 one year ago. There are 12 auctions scheduled in Perth, compared to 15 last week and nine this time last year, while Tasmania is set to see three homes taken to auction, compared to two last week and just one this time last year.

An early view of auction numbers suggests there are around 2,060 homes currently scheduled for auction across the combined capitals next week.

Summary of last week’s results

There were 2,276 homes taken to auction across the combined capitals last week, up 72.8% from the previous week (1,317) and 17.0% higher than this time last year (1,945). The lower volumes over the previous week were attributed to the King’s Birthday long weekend in most states.

The combined capital city final clearance rate came in at 65.5% last week, up 3.5 percentage points on the previous week (62.0%), which was the lowest final clearance rate so far this year. Over the same week last year, 69.2% of homes taken to auction across the combined capital cities were successful. The withdrawal rate fell from 9.7% over the previous week to 8.0% last week, while the portion of properties passed in at auction also fell last week (26.5%), down from 28.3% over the previous week.

There were 812 homes taken to auction across Sydney last week, compared to 523 over the previous week and 764 this time last year. The increased volumes saw Sydney’s final clearance rate hold relatively steady, coming in at 65.5% last week, up just 50 basis points week-on-week (65.0%). One year ago, 70.8% of Sydney auctions were successful.

In Melbourne, 1,083 homes were taken to auction last week, up from 488 over the previous week and 864 over the same week last year. Melbourne’s final clearance rate bounced back last week, coming in at 63.7%, 8.1 percentage points higher than the previous week (55.6%) when the clearance rate dipped to its lowest level since Easter 2023.

Brisbane (192) was the busiest auction market across the smaller capitals last week, followed by Adelaide (115), Canberra (57) and Perth (15). Adelaide (79.1%) recorded the highest clearance rate, followed by Perth (78.6%), Brisbane (67.7%) and Canberra (63.2%). There were just two auctions in Tasmania last week and they were unsuccessful.

For the full Auction Market Preview, which includes a summary of last week’s clearance rates by sub-region.

Related Readings 

Resilient Clearance Rates Despite Higher Volumes - CoreLogic

Preliminary clearance rate falls to 67.3% across the combined capitals - CoreLogic

Auction volumes hold steady week-on-week across the combined capitals - Corelogic

Solid bounce back in preliminary clearance rate to 75.9% - CoreLogic | The Real Estate Conversation

Auction market off to a strong start after 2023’s ‘year of two halves’ | The Real Estate Conversation

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