Craigieburn to be the busiest Melbourne locality for auctions: CoreLogic
Craigieburn is set to be the busiest locality for auctions this week, according to CoreLogic’s latest report.
The property data firm says that this week, Craigieburn is the busiest suburb for auctions, with 24 homes set to go under the hammer, followed by Glen Waverley (19), Epping (18) and Mount Waverley (15), all of which are in Victoria.
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The number of auctions scheduled to take place across the combined capital cities this week is expected to increase, with 2,166 currently being tracked by CoreLogic.
In both Melbourne and Sydney, the two major auction markets, auction activity is set to ramp up with 1,133 scheduled auctions across Melbourne, increasing from 828 last week and 738 homes to go under the hammer in Sydney, up from last week’s 596.
A five bedroom house at 68 Newbury Boulevard, Cragieburn (above) is set to go under the hammer this weekend.
Similarly a four bedroom house at 7 Brio Drive, Craigieburn (below) will go under the hammer this weekend.
Across the smaller auction markets, volumes will see an increase across Canberra and Tasmania, while decreasing in Adelaide, Brisbane and Perth.
Overall, auction activity is set to be lower than what was seen over the corresponding week last year (2,675).
Last week, the final auction clearance rate across the combined capital cities fell below 70 percent, after remaining in the mid-70 percent range for 10 consecutive weeks.
There were 1,751 capital city auctions last week, with 69.8 percent reporting as successful, down from the 73.9 percent, across a significantly lower 493 auctions the week prior.
When compared to one year ago, auction volumes were a lower 1,565, with 69.7 percent clearing.
In Melbourne, volumes rose substantially over the week, with 828 auctions held and a final auction clearance rate of 75.2 percent.
This is lower than the 81.3 per cent across 102 auctions the week prior, however higher than one year ago when there were 602 auctions and a success rate of 71.5 percent.
Across Sydney, volumes doubled over the week, with 596 auctions held and 72.4 percent reporting as successful, down from 77.0 percent across 279 auctions the previous week and also lower than the 77.4 percent one year ago.
Across the remaining capital cities, clearances rates fell in Adelaide, Canberra and Perth, while increasing in Brisbane and Tasmania, however auction volumes were significantly higher last week compared to the week prior.
Geelong recorded the highest clearance rate of all the non-capital city regions at 70.7 percent, while the Gold Coast region had the highest volume of auctions (64).
