The combined capital city final auction clearance rate came in at 52.2 per cent last week, which was slightly lower than the 52.6 per cent the previous week. The lower week on week clearance rate was across a higher volume of auctions with 2,276 homes taken to auction last week, increasing on the 1,976 auctions the prior week. One year ago, 1,915 auctions took place returning a higher 61.7 per cent clearance rate.
This week and weekend
The Easter long weekend is expected to see a very low number of homes taken to auction, with only 386 scheduled auctions this week across the combined capital cities. This is not unusual this time of year, as we’ve historically seen, Easter is one of the quietest weeks of the year. Over the Easter weekend last year there were 670 homes taken to auction.
Almost 60 per cent of all capital city auction activity is scheduled to take place in Sydney this week (220 auctions), while in Melbourne, just 48 auctions will be held.
118 auctions are scheduled to take place across the remaining capital cities, with 21 of those scheduled to take place in Brisbane and 46 in Adelaide. Canberra is set to host 35 auctions this week, while Perth is expecting 16 auctions.
Watch for Geoff White’s thoughts about the weekend ahead and the numbers around the country and then join him on Tuesday as he gives the most comprehensive national roundup of the full week’s activity.