Busiest week yet for auctions?

By |

Australia's auction market just had its busiest week in the year, with auction volume hitting 2,610 homes, according to CoreLogic.

The combined capital cities auction market managed to record their highest auction volume since early December 2018, returning a preliminary success rate of 75.3%.

"Compared to one year ago, volumes are lower than the 2,928 auctions held over the same week last year when a much lower 47% cleared," CoreLogic analyst Jade Harling said.

The high auction volume can be mostly attributed to the surge in activity across Melbourne, where 1,528 homes were taken to auction. The city reported a preliminary clearance rate of 77.1%.

"This is not unusual over what is the pre-Melbourne cup weekend each year," Harling said.

When it comes to success rate, Sydney remained at the top with 79.7% for 761 auctions. This came after the city reported a final clearance rate of 79.2% during the previous week, the strongest final results it has seen since early 2017.

The table below shows how each capital city auction market fared over the last week:

Busiest week yet for auctions this year?

City

Clearance Rate

Auction Volume

Sydney

79.7%

761

Melbourne

77.1%

1,528

Brisbane

46.6%

113

Adelaide

68.0%

124

Perth

43.5%

34

Tasmania

n/a

5

Canberra

55.6%

45

Top Suburbs : belmont , torrensville , sunshine , north epping , east victoria park

SHARE

Get help with your investment property



Do you need help finding the right loan for your investment?


When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here