High auction volumes for the second week in a row: Corelogic RP Data's Shana Miller

High auction volumes for the second week in a row: Corelogic RP Data's Shana Miller
High auction volumes for the second week in a row: Corelogic RP Data's Shana Miller

Across the combined capital cities, 2,904 auctions are scheduled this week after 3,016 residential homes were taken to auction the previous week.

The clearance rate last week improved slightly, up from 68.2% to 69.5%, demonstrating that clearance rates are similar to the levels seen at the same time on year ago (67.8%).

This week, it is expected that Melbourne auction volumes will rise, while Sydney will be host to less auctions than last week. In Melbourne, 1,481 residential auctions will be held, compared to 1,397 last week and a significantly lower 1,167 one year ago. Meanwhile, there are 1,063 homes being taken to auction in Sydney this week, compared to 1,197 last week and 929 one year ago.

Adelaide, Brisbane and Perth will all see a lower number of auctions this week compared to last week and similarly, lower than they were one year ago:

Adelaide:         88 this week                127 last week              103 last year
Brisbane:       149 this week                186 last week              159 last year
Perth:              16 this week                  34 last week               23 last year

On the other hand, Canberra is expecting 92 auctions this week which is higher than both last week (68) and last year (55).

This week, the top 10 busiest suburbs for auctions are all located in Victoria. Brighton and Reservoir are set to be the busiest, where 21 auctions will be held and Cheltenham, will host 19 auctions this week.

Shana Miller

Shana Miller

Shana Miller is a research analyst with RP Data.

Tags: 
Auction Clearance Rate

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