This article is from the Australian Property Journal archive
AUCTION numbers are set to spike this weekend as Australia moves out of the summer holidays season.
There were 440 capital city homes taken to auction last week, still falling within the school holidays, up from 262 over the previous week. The preliminary clearance rate is 64.5%, according to CoreLogic.
The number of auctions jumps to around 1,300 across the combined capitals this week.
Melbourne was the busiest market with 229 homes taken to auction last week, up from 132 over the previous week and 192 over the same week last year. Its preliminary clearance rate of 64.8% is likely to be revised lower as remaining results are collected.
Just 64 homes were taken to auction in Sydney last week, up from 55, for a preliminary clearance rate came in at 59.5%.
Adelaide hosted the most auctions across the smaller capitals, with 69 homes taken to auction. More than 76% were successful.
Brisbane saw 61 auctions, returning an early clearance rate of 55.3%.
Eights auctions for two successful results were recorded in both the ACT and Perth, while one successful auction was held in Tasmania.
