Early spring auction market preview: CoreLogic

Early spring auction market preview: CoreLogic
Early spring auction market preview: CoreLogic

The number of auctions scheduled across the capital cities is virtually unchanged over the week, with CoreLogic currently tracking 1,895 residential auctions, just four fewer than last week.

The difference in weekly activity is more prominent on a city- by-city basis, with the number of auctions scheduled in Melbourne rising this week, from 830 last week to 915 this week, compared to a fall in Sydney auction volumes, from 747 last week to 672 this week.

Outside of Sydney and Melbourne, auction activity will remain steady across Brisbane (137) and Perth (27), while more auctions are expected in Adelaide this week (84), however less across Canberra (56).

Click to enlarge

Early spring auction market preview: CoreLogic

Capital city auctions this week

  • Sydney: 672
  • Melbourne: 915
  • Brisbane: 137
  • Adelaide: 84
  • Perth: 27
  • Canberra: 56

This week there are three individual suburbs across Australia where more than 15 auctions will be held and each is located in Melbourne.

The busiest suburb is Reservoir, with 17 auctions, followed by Glen Waverley and St Kilda, each with 16 homes scheduled for auction.

Click to enlarge

Early spring auction market preview: CoreLogic

Summary of last week’s results:

Last week, CoreLogic collected a total of 1,723 auction results across the capital cities, with a final auction clearance rate of 77.1 per cent, the highest clearance rate for the year to date, and the highest reading since June last year (77.3 per cent).

Last week’s clearance rate of 77.1 per cent was moderately higher than the previous week (74.5 per cent). Last week, Melbourne, Canberra and Adelaide each recorded their highest year to date clearance rate.

Sydney’s clearance rate hit the 80 per cent mark last week, at 80.7 per cent, while Melbourne’s clearance rate came in just below, at 79.3 per cent, both representing week-on-week improvements for the cities.

Across the individual sub-regions of the two major auction markets, the strongest clearance rate was across Sydney’s Eastern Suburbs (90.7 per cent) and Melbourne’s Mornington Peninsula (94.1 per cent).

Click to enlarge

Early spring auction market preview: CoreLogic

Outside of the capitals, the strongest performing regional markets last week, based on clearance rate, were Wollongong (76.7 per cent) and Geelong (89.5 per cent), however auction activity across these regions remains low.

Click to enlarge

Early spring auction market preview: CoreLogic

Tags: 
Auction Market Corelogic

Comments

Be the first one to comment on this article
What would you like to say about this project?