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Following last week’s success, the number of Australian homes going under the hammer is set to hold firm on the previous week, according to CoreLogic.
Over the week ending 16 July, the research firm is reporting 1,426 homes will head to auction across the country – down just two auctions on the previous week.
Just edging out Sydney, Melbourne looks likely to become the nation’s busiest market as the Victorian capital braces to host 566 this coming week, down just five auctions on the previous week’s volume. Last week, Australia’s second largest city recorded a final clearance rate of 68 per cent from 571 auctions, up 4.7 per cent on the week prior’s performance.
Melbourne’s south-east, where 74 per cent of the 77 auctions ended successful, was the city’s strongest performing subregion. Meanwhile, the city’s west, which hosted 73 auctions – 56.2 per cent of which were successful – was the Victorian capital’s poorest performing subregion.
Sydney is expecting 565 homes to go under the hammer this week, down just 0.4 per cent on the previous week. Last week, the harbour city reported a final clearance rate of 68.8 per cent. This result marked a 1.6 per cent clearance rate rise that ended a five-week run of decline.
The Northern Beaches was Sydney’s most successful subregion after 84 per cent of its 25 auctions ended successfully. On the flip side, the Central Coast, where exactly half of the 22 auctions reported a positive result, was the city’s poorest performing subregion.
Among the smaller capitals, activity is set to rise in both Brisbane and Adelaide, while Canberra’s auction levels will remain steady on the previous week. In the Queensland capital, 107 auctions are scheduled, followed by 103 in Adelaide, and 72 in the national capital.
In Perth, 12 homes are scheduled for auction, equalling last week’s figures. No homes are scheduled for auction in Tasmania again this week.
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