Auction numbers tumble.
Auction Update: Kick-off airs every Friday at 3:00 pm +10 UTC, LIVE on Facebook, Twitter and YouTube.
Last week, 1,295 homes were taken to auction across the combined capital cities, returning a final auction clearance rate of 62.9 per cent, the highest clearance rate recorded since April last year and the 3rd consecutive week where the clearance rate has held above 60.0 per cent.
This week and weekend
Auction volumes are expected to fall across the combined capital cities this week with CoreLogic currently tracking 879 auctions, down from both last week (1,295) and this time last year (1,411).
Melbourne is expecting to see around 350 homes taken to auction this week, down from 535 last week and 631 last year. Sydney is also set to host a lower volume of auctions week-on-week with 343 auctions scheduled, down from 503 last week and 552 this time last year.
Across the smaller auction markets, Adelaide, Brisbane and Perth are expecting fewer auctions week-on-week. Canberra will see a rise in auction volumes this week with 58 homes scheduled for auction, while Tasmania is expecting to host an additional auction over the 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.