Last week saw 1,983 homes taken to auction across the combined capital cities, returning a final auction clearance rate of 70.7 per cent, down from the 72.8 per cent over the week prior when volumes were lower (1,639). Over the same week last year, 2,404 homes went to auction and a clearance rate of 52.4 per cent was recorded.
This week and weekend
The combined capital cities are expecting 40 per cent fewer homes taken to auction this week, with the AFL grand final being held over the weekend, it looks to be a quiet week for auctions across Melbourne, where a very subdued 84 auctions are scheduled this week contributing to the overall lower activity.
There are 1,181 capital city auctions currently being tracked by CoreLogic this week, down from the 1,983 held last week and higher than the 895 auctions held over the same week last year.
Sydney is set to be the busiest auction market this week, with 894 homes scheduled to go under the hammer, up on the 646 auctions held as at final results last week, and higher than the 608 auctions held one year ago.
The lower activity this week is not unusual, we historically see activity plummet over what is the grand final weekend each year.
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.
27 September, 2019
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