By Caitlin Fono, Research Analyst, Cotality (Formerly CoreLogic) 

There are currently 3,237 homes scheduled for auction across the combined capitals this week, marking the busiest week since the lead up to Easter last year (3,519). Last week saw 2,626 homes go under the hammer, while this time last year, 3,135 auctions were held across the combined capitals.

Of the 3,237 capital city homes set for auction this week, 53.1% are in Melbourne with 1,719 homes scheduled to go under the hammer. This marks the city's busiest week for the city since the week prior to Easter 2024 (1,760) with this week's numbers up 50.5% on last week (1,142) and 2.6% higher than this time last year (1,675).

In Sydney, 1,043 auctions are scheduled this week, down -3.3% on last week (1,079), although 6.3% higher than the same week last year (981).

Across the smaller capitals, Brisbane is set to host the busiest market this week, with 189 homes scheduled to go under the hammer, down from 200 last week.

Adelaide is expecting its busiest auction week since this time last year (181), with 174 auctions scheduled this week, up from 88 last week. In Canberra, 90 homes are currently scheduled for auction, down from 103 last week, while 18 auctions are scheduled in Perth this week, up from 14 last week.

There are four auctions on the radar in Tasmania this week.

Next week will see auction volume temporarily drop, with around 2,180 homes set to go under the hammer across the combined capitals.

The lower volume can be attributed to the Melbourne Cup Carnival which kicks off on Saturday 1st November, with fewer than 500 homes currently scheduled for auction across the city.

Summary of last week's results

Last week saw 2,626 homes taken to auction across the combined capitals, up from 2,587 the previous week and 2,541 this time last year.

Last week's final clearance rate came in at 67.3%, down 90 basis points on the previous week when 68.2% of auctions were successful. This time last year, a clearance rate of 58.2% was recorded across the combined capitals.

There were 1,142 auctions held in Melbourne last week, down from 1,249 the previous week and 1,098 this time last year. Melbourne's clearance rate came in at 66.4%, down -2.2 percentage points on the previous week (68.6%), while this time last year, 57.8% of reported auctions were successful.

In Sydney, 1,079 homes were taken to auction last week, up from 988 the previous week and 974 this time last year. Sydney's final clearance rate came in at 68.2%, in line with the previous week. Over the same week last year, 60.6% of reported auctions were successful.

Brisbane (200) was the busiest auction market across the smaller capitals last week, followed by Canberra (103), Adelaide (88) and Perth (14).

Adelaide recorded the highest clearance rate, coming in at 74.7% last week, down from 77.1% the week prior. Brisbane's clearance rate rose to 67.8% last week, up from 66.1% over the previous week, while Canberra's clearance rate came in at 61.2%, after the week prior recording its lowest clearance rate in seven weeks (60.4%). In Perth, 64.3% of auctions were successful last week, up from 61.1% the previous week.

There were no auctions held in Tasmania last week.