There are currently 1,092 capital city homes scheduled for auction this week, up 69.6% on last week (644), although -44.4% lower than the same week last year (1,964). This week’s auction activity is likely impacted by another long weekend with ANZAC Day falling on a Friday this year.

Melbourne is set to be the busiest auction market this week, with 446 homes scheduled for auction across the city. Last week saw 148 homes go under the hammer, while this time last year, 893 auctions were held.

In Sydney, 438 homes are scheduled for auction this week, compared to 359 last week and 667 this time last year.

Across the smaller capitals, Brisbane is set to host the most auctions this week (95), followed by Adelaide (79) and Canberra (29). Just five homes are set to go under the hammer in Perth this week, while there are no auctions on the radar in Tasmania.

There are currently just under 1,500 capital city homes scheduled for auction next week.

Summary of last week’s results

There were just 644 homes taken to auction across the combined capitals last week, down from 3,066 over the previous week and 1,900 this time last year. The low volumes can be attributed to the Easter long weekend, with 901 auctions held across the combined capitals over Easter last year. With the lower volume, this week’s auction statistics should be interpreted with some caution.

The combined capital city clearance rate dropped to 57.6% last week, the lowest clearance rate so far this year (excluding the volatile January results). The previous week recorded a clearance rate of 59.9% while this time last year, 66.2% of reported auctions were successful.

Across Melbourne, 148 homes were taken to auction last week, down from 1,382 over the previous week and 906 this time last year. In comparison, Easter last year saw 283 auctions held across the city. Melbourne’s clearance rate fell below the 60% mark for the first time since early-February, coming in at 58.8% last week, down from 62.2% over the previous week and 65.7% this time last year.

There were 359 homes taken to auction across Sydney last week, down from 1,282 over the previous week and 602 this time last year. In comparison, there were 414 auctions held across the city over Easter last year. Sydney’s final clearance rate held below the 60% mark for the fourth consecutive week, coming in at 59.6% last week, up from 58.5% over the previous week. This time last year, 65.1% of auctions were successful.

Brisbane (60) was the busiest auction market across the smaller capitals last week, followed by Adelaide (48) and Canberra (27). Adelaide recorded the strongest clearance rate, at 60.4%, followed by Canberra (51.9%) and Brisbane (43.3%). There were just two auctions in Perth last week, one of which was successful, while there were no auctions held in Tasmania.

Related readings 

Long weekend in Victoria sees auction volume dip - CoreLogic | The Real Estate Conversation

Capital city auction volumes on the rise - CoreLogic | The Real Estate Conversation

Seasonal lift in rents masks broader slowdown - CoreLogic | The Real Estate Conversation

Australians make a record median profit reselling their property - CoreLogic | The Real Estate Conversation