Melbourne Breaks a Record!

Last week

The combined capital city final auction clearance rate came in at 60.5 per cent last week, while there were only 21 fewer auctions week-on-week. Melbourne returned a final auction clearance rate of 68.9 per cent across 635 auctions last week, which happened to be the strongest result seen across the city since March last year.

Melbourne has seen clearance rates track above 60 per cent 5 out of the last 6 weeks now, while volumes have remained lower year-on-year. result seen across the city since March last year. Melbourne has seen clearance rates track above 60 per cent 5 out of the last 6 weeks now, while volumes have remained lower year-on-year.

In Sydney, 558 homes were taken to auction last week with 60.9 per cent selling.  Sydney’s clearance rate has tracked above 60 per cent 4 out of the last 5 weeks, however like Melbourne volumes continue to track lower each week when compared to the corresponding weeks in 2018.

This week and weekend

The number of homes scheduled to go to auction across the combined capital cities this week is expected to be lower, with 1,201 auctions currently being tracked by CoreLogic, down 19 per cent on last week’s 1,484 auctions held as at final figure.

The two largest auction markets of Melbourne and Sydney are both expected to see a fall in auction volumes over the week, with 497 Melbourne homes to be auctioned and 469 scheduled auctions across Sydney, down on last week’s 635 and 558 auctions held respectively.

Auction volumes are relatively steady week-on-week across Brisbane and Perth this week, while the remaining capital cities are all expected to see volumes fall.

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