The combined capital city final auction clearance rate came in at 48.3 per cent last week, which was lower than the 58 per cent the previous week. The lower clearance rate was across a lower volume of auctions over what was the Queen’s birthday long weekend. One year ago, 904 auctions took place returning a higher 53.8 per cent clearance rate.
This week and weekend
The number of homes scheduled to go under the hammer this week is expected to rise, after last week saw volumes dip as most states welcomed a long weekend.
There are 1,418 scheduled auctions across the combined capital cities this week, rising by 76 per cent on last week’s 805 auctions held.
Melbourne is set to see more than double the volume of auctions take place this week, with 683 homes scheduled for auction, up from last week’s 215 auctions.
There are 505 Sydney homes set to go to auction this week, increasing on last week when 313 properties were auctioned.
Across the smaller markets, volumes are down week-on-week across Brisbane and Perth, while Adelaide and Canberra will see more auctions take place. Tasmania has no scheduled auctions this week.
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.