09/08/2021 | News release | Distributed by Public on 09/08/2021 16:14
Auction volumes are set to rise week-on-week, with 1,638 capital city homes currently scheduled to go under the hammer this week, up from 1,423 over the previous week. This time last year, 816 auctions were held across the combined capital cities.
There are 554 auctions currently scheduled in Melbourne this week, up from 430 over the previous week although the actual number of homes taken to auction has been revising considerably lower over the lockdown period as vendors seek to reschedule. This time last year, just 13 auctions were held across the city.
Sydney is set to host 665 auctions this week, up from 607 over the previous week and 600 this time last year.
Across the smaller capital cities, Brisbane is set to host the highest number of auctions over the week (194), followed by Adelaide (159) and Canberra (47). Perth is expecting to see 17 homes taken to auction, while there are two auctions scheduled in Tasmania this week.
A final clearance rate of 67.7 per cent was recorded across the combined capital cities last week, improving on both the previous week (58.0 per cent) and this time last year (60.5 per cent). There were 1,423 homes taken to auction across the combined capitals last week, down from the 1,567 originally scheduled. Over the previous week, 1,960 auctions were held, while this time last year, 866 homes were taken to auction.
There were 430 auctions held across Melbourne last week, down -22.0 per cent from the initial predicted count. All but one result was collected, returning a final clearance rate of 43.8 per cent, up from 35.9 per cent over the previous week and 32.1 per cent this time last year. The higher clearance rate week-on-week was helped by the lower withdrawal rate, with 52.9 per cent of auctions withdrawn last week, compared to 61.6 per cent over the previous week. The previous week saw 928 auctions held across the city, while this time last year, just 28 auctions were held in Melbourne.
There were 607 homes taken to auction in Sydney last week, compared to 592 over the previous week and 608 this time last year. A final clearance rate of 81.2 per cent was recorded across the city last week, up from 80.2 per cent over the previous week and 62.3 per cent this week last year. Of the sold results, just under half were sold prior to auction (49.8 per cent), down slightly from the previous week when 52.2 per cent of successful auctions were sold prior.
Across the smaller cities, Adelaide recorded a final auction clearance rate of 79.9 per cent last week, followed by Brisbane (75.2 per cent), Canberra (60.3 per cent), and Perth (50.0 per cent). With Canberra still in lockdown, 30.9 per cent of auctions were reported as withdrawn across the city, up slightly from the previous week (29.5 per cent).