- More properties are scheduled for auction this week, up 12.7%.
- Last week's final clearance rate was 64.5%.
- Several stunning properties are heading to auction this weekend.
Homes going to auction have jumped back up, following a dip at the start of August.
The CoreLogic Auction Preview expects 1,967 homes to head to auction this weekend, a 12.7% rise from last week, and just a hair under the final week of July (1,973).
Compared to one month ago, the number of homes picked up 27.8% from 1,539, and is 22.1% higher than the same time last year (1,611).
Melbourne is the busiest auction market for the weekend, followed by Sydney, and Brisbane. Tasmania does not have any scheduled auctions.
| City | Scheduled auctions | Week-on-week change |
|---|---|---|
| Melbourne | 847 | +9.7% |
| Sydney | 819 | +18.4% |
| Brisbane | 128 | +50.6% |
| Adelaide | 92 | -12.4% |
| Canberra | 70 | -15.7% |
| Perth | 11 | +57.1% |
Source: CoreLogic.
Auction recap: first week of August
The final month of winter saw fewer homes go to auction, with the final clearance rate revised to 64.5%, according to CoreLogic. The clearance rate was a 40 basis point dip from the previous week, however, remained well above last year’s 56.6%; CoreLogic also noted it is the lowest clearance rate since Easter this year (61.5%)
| City | Clearance rate | Total auctions | Cleared auctions | Uncleared auctions |
|---|---|---|---|---|
| Sydney | 63.4% | 692 | 438 | 253 |
| Melbourne | 65.0% | 772 | 502 | 270 |
| Brisbane | 65.9% | 85 | 85 | 62 |
| Adelaide | 70.5% | 105 | 74 | 31 |
| Perth | n.a. | 7 | 7 | 25 |
| Tasmania | n.a. | 2 | 2 | 2 |
| Canberra | 62.7% | 83 | 53 | 31 |
| Weighted Average | 64.5% | 1,746 | 1,125 | 620 |
Source: CoreLogic.
Across the regions, Sydney’s top five areas included Sutherland, North Sydney and Hornsby, Inner West, City and Inner South, and Northern Beaches.
| Region | Clearance Rate | Auctions |
|---|---|---|
| Sutherland | 78.6% | 28 |
| North Sydney & Hornsby | 71.9% | 96 |
| Inner West | 70.2% | 57 |
| City & Inner South | 70.0% | 80 |
| Northern Beaches | 70.0% | 41 |
Source: CoreLogic.
Eye-catching auctions this weekend
Some stunning trophy pieces are heading to auction this weekend across Melbourne, including this five-bedroom property in Balwyn, as listed on Domain. The stately home is on a 672 square metre (sqm) plot and is being brought to market by Forge. The property is located at 28 Kalimna Street, Balwyn.
Among other eye-catching properties going to auction this weekend is a 1930s home located at 41 Mayfield Street, Ascot, in Brisbane.
Beyond the doors of its charming exterior, the home is a modern, minimalist, two-tone living space that tastefully transitions from the exterior character into a modern oasis.
The property is being brought to market by Ray White‘s Matt Lancashire.
