CoreLogic National Auction Preview, week ending 26 June 2016

Upcoming auctions:

This week, the number of auctions held across the combined capital cities will remain steady, with 2,110 scheduled. Across the individual cities, however, there will be more auctions held this week in Sydney, Brisbane and Adelaide, while in Canberra, Melbourne and Perth, auction activity is lower week-on-week.

In the two biggest cities, Melbourne will be host to 982 auctions this week, down from over 1,000 auctions being held last week. While in Sydney, 778 residential homes will be taken to auction, up slightly from last week.

Capital city auctions this week:

  • Sydney: 778
  • Melbourne: 982
  • Brisbane: 161
  • Adelaide: 86
  • Perth: 39
  • Canberra: 55

This week, Glen Waverley (27), Mount Waverley (20) and Balwyn North (19), all located in Melbourne, are the busiest suburbs for auctions. While across Sydney, St Ives is this week’s busiest suburb with 15 auctions.

Summary of last week’s results:

20160623 cc table

After dipping to 65.7 per cent the previous week, combined capital city auction clearance rates rose last week, to 67.4 per cent. Three of the past four weeks have seen capital city auction volumes in excess of 2,000, with last week’s final count at 2,183 residential auctions held.

20160623 cc graph

Over the week before last, Melbourne’s clearance rate fell to the lowest reading for the year to date, however last week the clearance rate rose from 64.5 per cent to 68.3 per cent. Despite this rise, the clearance rate hasn’t reached the same levels seen prior to the long weekend. In Sydney, the auction clearance rate fell last week, but only marginally, from 74.1 per cent to 73.4 per cent. There were 768 auctions held across the city, with North Sydney and Hornsby the sub-region with the most auctions held (123) and one of the highest clearance rates (80.2 per cent).

Across the regional markets that CoreLogic monitors, Geelong was the strongest performer in terms of clearance rate, with final results showing 75.0 per cent of auctions were successful. However, there were only 23 auctions held across the region.

20160623 regional

About Shana Miller

Shana joined CoreLogic RP Data in 2007, heading up CoreLogic RP Data’s 'agents advice' team which is responsible for collecting sales data directly from industry participants. Having gained a solid background in data collection, storage and reporting, Shana joined CoreLogic RP Data’s research team as an analyst in 2011. Shana's day to day activities include compiling CoreLogic RP Data’s regular analysis such as auction and private treaty metrics as well as reporting on housing markets at a local through to national level. Shana has now joined the CoreLogic RP Data commentating team to deliver weekly blog updates on housing market activity across the country.

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