Melbourne has busiest five auction suburbs: CoreLogic
The top 5 busiest suburbs for auctions this weekend are all in Melbourne, according to CoreLogic.
Topping the list with 17 homes scheduled for auction is Reservoir, followed by Craigieburn with 16, Glen Waverley and Richmond each to host 13 and South Yarra with 12.
Auction activity is set to rise across the combined capital cities this week, with the number of homes scheduled for auction more than doubling over the week after last week’s Queens’s birthday long weekend slowdown.
CoreLogic is currently tracking 1,886 capital city auctions this week, rising on last week when final figures showed 904 auctions held.
Melbourne is set to be the busiest auction market this week, with a total of 932 homes scheduled for auction, increasing on last week when a very subdued 275 homes were taken to auction on the long weekend.
Volumes are also set to increase across Australia’s second largest auction market Sydney, with a total of 680 homes scheduled to go under the hammer this week, up on the 415 auctions held last week.
Across the smaller markets, Adelaide, Canberra and Perth are all expected to see a considerable increase in activity this week, while volumes across Brisbane are set to remain relatively steady, with Tasmania the only auction market set to see a fall in auction volumes over the week.
One upcoming auction in Reservoir is a multi-level house with views of Bundoora Park and Golf Course which priced at $859,000 to $899,000 (pictured below).
Located at 17 Ayr St, the house comes with four generously sized bedrooms, an additional fifth bedroom or home office on the ground level, formal lounge and large family room.
Nestled on a 767 sqm of land plus 53sqm ROW on title, it also features ducted heating/cooling, double insulated roof, alarming system and multiple garage accommodations.
Another Reservoir two bedroom townhouse will be auctioned on Saturday priced at $550,000 to $595,000 (pictured below).
Positioned at 3/3 Mattea Court, the townhouse features two generous size bedrooms, separate toilet at ground floor, high ceilings and hardwood floorboards.
Only 13km from Melbourne's CBD, it's just a short drive away from the Western Ring Road, the Hume Freeway and Tullamarine airport.
It is also with quick access to RMIT, La Trobe and Melbourne Universities.
Last week saw the combined capital city auction market slowdown ahead of the Queen’s birthday public holiday, with only 904 homes taken to auction last week. The lower volumes did little to improve clearances rates last week with the weighted average declining further returning a 53.8 per cent final auction clearance rate; the fifth consecutive week of falls across the combined markets. A very difference result to what was seen one year ago, when a much higher 67.8 per cent of homes cleared at auction over the same week (1,279 auctions).
Sydney was the busiest auction market last week, outperforming Melbourne in terms of clearance rate and number of auctions. There were 415 Sydney homes taken to auction last week returning a 56 per cent success rate, increasing on the week prior when the final clearance rate dropped to 47.1 per cent; albeit volumes were considerably higher across the city.
The public holiday long weekend resulted in very low activity across Melbourne last week, with a very modest 275 homes taken to market returning a 54.9 per cent final clearance rate, decreasing significantly on the week prior when 1,079 auctions were held and 59.8 per cent cleared.
Brisbane, Perth and Tasmania all saw an improvement in clearance rates week-on-week, while Adelaide and Canberra’s final clearance rate fell.
Geelong was the best performing non-capital city region last week, with a clearance rate of 63.6 per cent across 21 auctions.
