CoreLogic National Auction Preview, week ending 23 October 2016
Upcoming auctions:
A slightly higher number of capital city auctions are scheduled for this week with 2,466 capital city auctions currently being tracked by CoreLogic. In Sydney, the 773 auction scheduled is fewer than last week while in Melbourne auction volumes are set to rise with 1,319 auctions currently scheduled. In both Sydney, Melbourne and across the capital cities the number of auctions scheduled this week is lower than the same week last year.
Across the smaller cities, auction activity is set to be higher this week in Brisbane and Adelaide while fewer auctions are scheduled in Canberra and Perth.
Capital city auctions this week:
- Sydney: 773
- Melbourne: 1,319
- Brisbane: 181
- Adelaide: 91
- Perth: 25
- Canberra: 64
Reservoir and Richmond, both of which are in Melbourne are the busiest suburbs for auctions across the nation this week, with 21 residential homes set to go under the hammer. St Kilda (20) and Brighton (19) also have a relatively high number of auctions this week.
Summary of last week’s results:
The auction clearance rate across the capital cities was virtually unmoved over the
past week, recorded at 76.2 per cent compared to 76.4 per cent the previous week. Last week saw 2,443 auctions which was up from 2,290 over the previous week.
Melbourne’s clearance rate fell las week to 77.7 per cent from 78.4 per cent over the previous week. In Sydney, clearance rates rebounded above 80% and were recorded at 81.4% last week compared to 79.8% the previous week. City and Inner South, Eastern Suburbs and Ryde, each of which are in Sydney, recorded clearance rates above 90 per cent.
Across the smaller auction markets, performance was mixed last week, with clearance rates increasing in Perth while falling across the remaining markets.
The Gold Coast was the busiest non-capital city region last week, with 47 auctions, however Geelong recorded the strongest clearance rate at 80.0 per cent.
