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The number of auctions set to go under the hammer this week is expected to increase moderately from last week’s figures.
According to CoreLogic, 2,968 capital city homes are scheduled for auction in the week ending 17 November. That’s a slight rise from the 2,884 homes taken to auction last week yet a small drop from the 2,990 auctions this time last year.
Last week, the combined capital city clearance rate came in at 58.4 per cent, up from 56.3 per cent over the previous week but following the trend of hitting below 60 per cent in the last six weeks.
Melbourne is scheduled to host 1,330 auctions this week, staying consistent with last week’s figure. Volumes have slightly dropped compared to the 1,410 auctions held across the city this time in 2023.
Sydney is expecting a slight increase from last week’s 1,062 houses that went to auction with 1,186 homes pencilled in to go under the hammer this week. These volumes have marked a rise from the 1,063 live events scheduled this time last year.
Across smaller capital cities, Brisbane takes over as the lead again with 189 auctions scheduled, followed by Adelaide’s 158 live sale events planned.
Compared to the last few weeks, Canberra has dropped in auctions with 85 homes set to be hosted. Perth continues to hold fairly steady expectations with 18 auctions scheduled to go under the hammer, and Tasmania is set to see only two homes go up for auction.
It is expected that next week fewer auctions will be held, with around 2,550 homes currently set to be hosted across the combined capital cities.
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