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CoreLogic is tracking a total of 1,318 auctions this week, down from last week (1,540) and significantly lower than one year ago, when 2,118 capital city auctions were held.
The two major auction markets of Sydney and Melbourne have similar numbers of auctions scheduled this week, with 563 to be held in Melbourne and 549 in Sydney.
For both cities, these numbers are lower than last year, when there were 908 Melbourne and 915 Sydney auctions held.
Auction activity is lower week-on-week for each of Adelaide, Brisbane and Canberra.
Meanwhile, auction activity in Perth is set to remain relatively steady, with 30 auctions scheduled this week.
Summary of last week’s results
After the highest combined capital city clearance rate for the year to date – 72.0 per cent – was recorded in the previous week, the rate rose further last week to 72.5 per cent.
Auction volumes were lower over the week, with 1,540 capital city auctions recorded. Sydney and Melbourne remained the top-performing capital cities last week, with final clearance rates of 77.5 per cent and 74.2 per cent respectively.
Canberra followed closely, with 74.1 per cent of reported auctions successful. Despite being the three strongest-performing capital cities, clearance rates for each of Sydney, Melbourne and Canberra were lower than over the previous week.
Clearance rates also fell in Adelaide (63.5 per cent) and Perth (36.0 per cent), while Brisbane was the only capital city to show a week-on-week rise, up from 48.5 per cent the previous week to 54.5 per cent last week.
Outside of the capital city markets, Wollongong (75.9 per cent) recorded the strongest auction clearance rate last week, with 29 results reported to CoreLogic.
[Related: Auction markets poised for disruption]
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