With 2,260 homes currently scheduled for auction across the combined capital cities, this week is shaping up to be the busiest auction week since late June. The volume of auctions this week is 17.8% higher than last week (1,918) and 35.2% higher than this time last year (1,672) when lockdowns continued to impact several auction markets.

There are 1,006 homes set for auction across Melbourne this week, the busiest week the city has seen since June, rising 18.8% from last week when 847 auctions were held across the city, and 133.4% higher than this time last year when Melbourne was navigating its sixth lockdown (431).

In Sydney, 835 homes are currently scheduled for auction this week, and as with Melbourne, this will be the busiest auction week the city has seen since June. The volume of auctions this week is 19.6% higher than last week when 698 auctions were held across the city, and up 6.2% from this time last year (786).

Across the smaller capital cities, Brisbane is set to see auction volumes rise 33.1% week-on-week with 169 homes scheduled to go under the hammer this week, up from 127 last week, making it the busiest auction market amongst the smaller capitals. There are 129 auctions scheduled in Adelaide this week, in line with last week, while in Canberra there are 102 homes scheduled for auction this week, up 1.0% week-on-week (101). Perth will see 18 homes taken to auction this week, up from 15 last week, while there is only one auction on the radar in Tasmania this week.

Summary of results - week ending 4 September 2022

There were 1,918 homes taken to auction across the combined capitals last week, with the combined capital city clearance rate coming in at 59.7%. This was the highest combined capital city clearance rate since the week ending 22 May 2022 (61.3%). This time last year, 73.7% of reported auctions were successful.