Richmond tops weekend auction offerings: CoreLogic

All of the busiest suburbs for auctions this weekend are in Victoria, with Richmond topping the list with 18 homes set to go under the hammer.

Richmond is followed by Mount Waverley with 14 scheduled auctions, while Craigieburn and Reservoir will each host 13 auctions.

A three bedroom Campbell Street townhouse (below) is expected to fetch the highest price, with a guide of $1.25 million to $1,375,000.

The only other house for sale is at 27 The Crofts (above), which has a reserve price of $1.15 million.

This week, CoreLogic is currently tracking 1,690 capital city auctions, decreasing from the 1,839 auctions held last week. While one year ago a significantly lower 493 auctions were held over what was the Easter period last year.

As usual, Melbourne and Sydney are the two busiest capital city auction markets this week, with 795 and 678 homes scheduled to go to auction;down from last week’s final result which saw 720 and 775 auctions held across the cities respectively.

Auction activity is expected to be lower week-on week across each of the smaller auction markets.

Final auction results for last week show that 1,839 residential homes were taken to auction with a 62.8% final auction clearance rate, down from 64.8% over the previous week when significantly fewer auctions were held (670).

Auction volumes rose across Melbourne last week returning a higher final clearance rate, with 723 auctions held and 68.2% selling, increasing from the week prior when only 152 auctions were held and 65.5% cleared.

There were a total of 795 Sydney auctions last week, increasing on the previous weeks 394 auctions. The higher volumes saw the final clearance rate weaken with 62.9% of auctions successful, down on the 67.9% the week prior.

All of the remaining auction markets saw a rise in activity last week; clearance rates however returned varied results week-on-week, with Adelaide Brisbane and Perth showing an improvement across the higher volumes while Canberra and Tasmania both recorded lower clearance rates.

Across the non-capital city regions, the highest clearance rate was recorded across the Hunter region, with 72.5% of the 45 auctions successful.