The combined capital city final auction clearance rate came in at 58 per cent last week, surpassing the previous weeks 57.7 per cent as the strongest result seen in over 12 months. There were 1,661 homes taken to auction last week, which was lower than the week prior when 2,055 auctions took place.
The last few weeks have seen final clearance rates track higher than one year ago, however volumes are still trending lower each week relative to the same week’s last year. Over the same week in 2018, 2,281 homes were taken to auction returning a final auction clearance rate of 54.1 per cent.
This week and weekend
This week, Ipswich in Queensland will see 41 units go up for individual auction, making it one of the busiest cities for auctions this week.
Scheduled auction volumes are much lower week-on-week with 739 capital city homes set to go under the hammer, down on the 1,661 auctions held last week. The lower volumes is likely due to the upcoming Queens Birthday public holiday which will result in a long weekend across all states but Qld and WA.
Watch for Kevin Brogan’s thoughts about the weekend ahead and the numbers around the country and then join him on Monday as he gives the most comprehensive national roundup of the full week’s activity and a look inside the top sales in 6 capital cities.