Clearance up 10% on last year
Auction numbers 20% down on last year
Melb and Syd numbers are up this week
Last week, 1,111 auctions were held across the combined capital cities, returning a final clearance rate of 67.8 per cent, increasing on the 66.4 per cent clearance rate over the week prior when volumes were similar.
The weighted average clearance rate has held above 65 per cent for five consecutive weeks now, while auction volumes have remained steady each week over the past month. On a yearly basis, clearance rates are currently tracking around 10 percentage points higher, while volumes still remain around 20 per cent lower.
This week and weekend
Auction volumes are set to remain steady for another week, with 1,121 capital city homes scheduled for auction this week, only 10 extra auctions on last week’s final figures.
There are 528 Melbourne homes scheduled for auction this week, up on the 500 auctions held last week, although down on a yearly basis (860).
In Sydney, the number of homes scheduled for auction this week is up 12.8 per cent on final figures last week, with 414 auctions scheduled to take place compared to last week’s 367 auctions held.
One year ago, a higher 458 Sydney homes were taken to auction over the same week.
Across the smaller auction markets, volumes are expected to be down across Adelaide, Canberra, Perth and Tasmania, while Brisbane is set to see an increase in activity 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.
Read more: realestatetalk.com.au