Auction volumes have been trending higher over the past few weeks, with 3,101 homes currently scheduled for auction across the combined capital cities this week, up from 2,940 over the previous week and 1,427 this time last year.
Auctions this week
Melbourne is set to host 1,474 auctions this week, down slightly from the previous week when 1,493 auctions were held, making it the third busiest week for auctions across Melbourne so far this year. Over the same week last year, 490 homes were taken to auction across the city.
Sydney auction volumes are set to increase week-on-week with 1,037 homes scheduled for auction this week, the first time auction volumes have risen above 1,000 since late June. The previous week saw 916 auctions held across the city, while this time last year, 700 homes were taken to auction across Sydney.
Across the smaller capital cities, Brisbane is set to host the highest number of auctions over the week (231), followed by Adelaide (210) and Canberra (125). Perth is expecting to see 22 homes taken to auction, while there are just two auctions on the radar in Tasmania this week.
Summary of last week's results
Last week was the fourth busiest auction week so far this year, with 2,940 homes taken to auction across the combined capital cities, up from 2,708 over the previous week and 1,131 this time last year. The higher auction volumes saw the final clearance rate fall after holding above 80.0 per cent for the past three weeks. Of the 2,921 auction results collected, 78.3 per cent were successful, down from 80.2 per cent over the previous week, although higher than this week last year (66.2 per cent).
Capital city auction statistics (Final)- w/e 17 October 2021
There were 1,493 auctions held across Melbourne last week, the second busiest week for auctions all year, up from 1,351 over the previous week and 187 this time last year. Of the 1,484 results collected, 74.9 per cent were successful, down from 77.3 per cent over the previous week. Over the same week last year, 60.2 per cent of reported auctions were successful.
Weekly clearance rate, combined capital cities
There were 916 homes taken to auction in Sydney last week, up from 825 over the previous week and 704 this time last year. Of the 910 results collected, 81.5 per cent were successful, meaning the final clearance rate in Sydney has held above 80.0 per cent since late August. The previous week saw 81.7 per cent of reported auctions return a successful result, while this time last year, a clearance rate of 69.1 per cent was recorded.
Across the smaller capital cities, Canberra recorded the highest final auction clearance rate, holding above 90.0 per cent for the third consecutive week (91.2 per cent). Following on from Canberra was Adelaide (81.9 per cent), Brisbane (78.0 per cent) and Perth (70.8 per cent). There was just one auction held in Tasmania last week and it was successful.
Sub-region auction results (Final)- w/e 17 October 2021
CoreLogic Australia