There are 1,508 capital city homes currently scheduled for auction this week, down -15.1% from last week (1,776) and just -2.0% lower than this time last year (1,539).

Melbourne is set to see 622 homes taken to auction this week, down -7.0% from last week (669) and -4.3% lower than this time last year (650).

There are 573 auctions scheduled in Sydney this week, down -25.2% from last week when 766 auctions were held, and -5.4% lower than this week last year (606).

Across the smaller capitals, Brisbane (150) and Canberra (51) are the only cities to see an increase in auction volumes week-on-week, up from 136 and 43 respectively. There are 101 auctions scheduled in Adelaide, down from 151, and nine in Perth, down from 11. There are just two auctions scheduled in Tasmania this week, after the previous week saw no homes taken to auction.

The lower volumes this week are likely due to winter school holidays in most states, with capital city auction volumes rising slightly next week. Weekly auction volumes will likely sit around the 1,800 mark over the next two weeks.

Summary of last week’s results

Last week saw 1,776 homes taken to auction across the combined capitals, down -12.5% from the previous week (2,030), and 24.4% higher than this time last year (1,428).

The combined capital city final clearance rate rose to 66.5% last week, after the previous week (63.0%) recorded the second lowest final clearance rate so far this year. Last week’s result is the highest clearance rate since the week ending 7th April (67.0%). This time last year, 68.4% of capital city homes taken to auction were successful.

There were 766 homes taken to auction across Sydney last week, in line with the previous week (766) and up from 567 this time last year. Sydney’s final clearance rate came in at 68.5% last week, after the previous week (63.0%) recorded the lowest clearance rate so far this year. Last week’s final result is the highest clearance rate the city has seen since the week ending 12th May (68.7%). Over the same week last year, 68.8% of Sydney auctions were successful.

In Melbourne, 669 homes were taken to auction last week, down from 886 over the previous week. Melbourne’s final clearance rate came in at 60.9% last week, down from 62.4% over the previous week. Over the same week last year, 571 homes were taken to auction across the city and a clearance rate of 68.0% was recorded.

Adelaide (151) was the busiest auction market across the smaller capitals last week, followed by Brisbane (136) and Canberra (43). Adelaide (77.5%) recorded the highest clearance rate, followed by Brisbane (73.9%), Canberra (62.8%) and Perth (45.5%). There were no auctions in Tasmania last wee.

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

Related Readings

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CoreLogic Home Value Index: Sydney Recovers, Brisbane Overtakes Canberra

Combined capital city auction volumes hold steady week-on-week

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