Auction Volumes

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Last week, the combined capital city auction clearance rate held relatively steady, up slightly from 61% the previous week to 61.4%. Of the 2,947 auctions held, CoreLogic RP Data captured 2,683 results, equivalent to a collection rate of 91%.
The two major capital city markets of Sydney and Melbourne are both showing variations in their latest results. While both cities each had a similar number of auctions, 1,204 in Melbourne and 1,248 in Sydney, Melbourne’s clearance rate rose from 65.6% the previous week to 69% last week while Sydney’s clearance rate was down to 58.4% after recording 60.2% the previous week.
The clearance rate for Sydney this week is the lowest seen since the Easter weekend in 2013 and  represents the 9th consecutive week where Melbourne’s clearance rate has been stronger (this shift is highlighted in the graph below).  Between 2010 and mid-2013, it was common for Melbourne’s clearance rate to outperform Sydney’s, however since that time, Sydney’s auction clearance rate has been consistently outperforming until recently.
<a href="/images/2015/11/12/Sydney-vs-Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/12/Sydney-vs-Melbourne.jpg" alt="" width="721" height="274">
For the second week in a row, auction activity across the capital cities is expected to increase, with just over 3,300 auctions currently expected by CoreLogic RP Data, providing plenty of stock for buyers to choose from. Melbourne is expecting 1,563 residential auctions, reflective of conditions seen one year ago when 1,504 auctions were held, while across Sydney 1,270 auctions are being held this week, lower than one year ago (1,417).
Brisbane is set for a busy week, with 207 auctions, compared to 168 last week, while in Adelaide (121 compared to 146), Canberra (97 compared to 122) and Perth (37 compared to 44) auction activity this week will be quieter than last week.
The two busiest suburbs for auction this week are Reservoir, in Victoria with 29 auctions, and Mosman in New South Wales where 20 properties will go under the hammer.
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Auction volumes rise again: CoreLogic RP Data's Shana Miller

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The combined capital cities are expected to see auction activity ramp up over the week, with a total of 2,593 properties set to go under the hammer, according to CoreLogic data. This week’s scheduled volumes are 24% higher than last week’s final figures which saw 2,085 auctions held. Plus this time last year, a higher 2,804 homes were taken to auction across the combined capitals.

There are over 1,000 homes set to be taken to auction across each of Australia’s two largest auction markets this week. Melbourne is expected to be the busier of the two with 1,153 properties scheduled for auction, an increase of 28% on last week. Sydney isn’t far behind with a total of 1,037 auctions scheduled to take place, an expected rise of almost 20%.

While activity across Melbourne has certainly bounced back from the lows seen throughout most of the second half of the year, volumes are still below 2019 levels with 1,405 homes taken to auction over the same week last year. Meanwhile one year ago in Sydney, volumes were lower at 875.

The remaining smaller markets are all expected to see a rise in activity over the week, with Brisbane set to be the busiest of the smaller cities with 147 auctions scheduled to take place. This is followed by Canberra (115), Adelaide (101), Perth (36) and Tasmania (4).

One example of a property headed to auction in Melbourne this weekend is an apartment at 705/547-551 Flinders Lane. The one-bedroom, one-bathroom apartment in Docklands sits on the top floor of Morgan Place. It goes to auction with a guide of between $291,000 and $320,000.

The apartment sits near the Docklands project <a href="https://www.urban.com.au/buildings/melbourne-quarter-628-flinders-street-docklands?ref=srp_listview">Melbourne Quarter at 628 Flinders Street</a>, developed by Lendlease. The Fender Katsalidis-designed East Tower has 719 apartments, a mix of one and two bedrooms which are for sale starting from $458,000. 
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There are over 1,000 homes set to be taken to auction across each of Australia’s two largest auction markets this week.

urban.com.au

Auction volumes up 20% or more across Melbourne and Sydney 

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There are 968 capital city auctions being tracked by CoreLogic this week, increasing on the previous week when 816 auctions were held.
Over the same week last year, 1,983 homes were taken to auction across the combined capitals.
There are 726 Sydney homes scheduled for auction this week, increasing on both last week when 600 Sydney homes were taken to auction, and one year ago, when 646 auctions were held across the city. 
Melbourne auction volumes remain at levels usually only seen over the seasonally quiet early January period with just 14 auctions on the radar this week, compared to 13 last week. Over the same week last year 1,020 auctions were held across the city.
The REIV is expecting about 20 auctions this week, only slightly more than CoreLogic's figures.
Across the smaller auction markets, Canberra is set to hold the most auctions this week (74), followed closely by Adelaide (73). Brisbane is expecting to host 66 auctions, while Perth has 13 auctions on the radar. Once again, Tasmania is set to see just 2 properties up for auction.
<img src="https://www.urban.com.au/images/2020/9/18/CL%20SEPT%2018.JPG" alt="">
Australia’s largest property market is shaking off the cold weather as spring selling season continues to bring in premium stock for the leading agency.
In Sydney’s inner city suburbs, Ray White Surry Hills | Alexandria | Glebe | Erskineville Associate Director Matthew Carvalho said first home buyers have been lining up to inspect 5/191-195 Bridge Rd, Glebe (pictured in title).
The auction will be called by Ray White NSW CEO Jason Andrew. Mr Carvahlo noted that feedback has been at the $1 million to $1.1 million mark.
<img src="https://f.datasrvr.com/f1/220/74656/Petersham.JPG" width="640" data-imagetype="External">
The successful buyers may need to cool off at Bondi Beach after what is expected to be a hot auction 5/312 Bondi Rd.
The two bedroom apartment is being sold through Ray White Woollahra | Paddington Director of Sales Clay Brodie who said he has overseen roughly 100 inspections on the home.
“Buyers are interested in the beachside location but have also been really impressed by the scale and quality of the renovations the owners have done,” Mr Brodie said.
The Bondi Road apartment has a price guide of $1,100,000 and the auction will also be conducted by NSW CEO Jason Andrew.
Ray White Petersham Director Nicholas Arena has also had a huge amount of interest on 38a Constitution Rd, Dulwich Hill (pictured above) after more than 120 groups inspected the four bedroom home. Mr Arena said he is confident of a great result this weekend.
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Spring selling season is starting to show results in Sydney

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Auction activity is set to be lower across the combined capital cities this week as scheduled volumes plummet across Melbourne.
There are 937 capital city auctions being tracked by CoreLogic this week, down from 1,128 auctions last week and the 1,533 held over the same week last year.
In Melbourne, only 30 properties are expected to be auctioned this week as the city enters its fifth week in stage 4 lockdowns. Last week, 162 homes were taken to auction and one year ago 765 auctions were held across the city.
This week is set to be the lowest number of auctions held over a week in Melbourne, outside of the early January period or Easter.
There are 676 Sydney homes scheduled for auction this week, down from 706 last week, and higher than the 528 held one year ago.
Although there are fewer auctions scheduled relative to last week, the number of auctions held across Sydney has been consistently trending higher since mid-May.
Across the smaller auction markets, Canberra is set to hold the most auctions this week (80), followed by Brisbane (65), Adelaide (64) and Perth (18). While Tasmania has 4 auctions scheduled.
<img src="https://www.urban.com.au/images/2020/9/3/CL%20SEPT%201.JPG" alt="">
Buyer demand remains strong as Australians continue to view property as a safe haven during uncertain times. Throughout August, the Ray White Group conducted 848 auctions with 4.7 average registered bidders per auction, marking an increase on this time last year.
While on the last weekend of August alone, the leading auction agency booked a 66.3 per cent clearance rate and an increase of 1.8 bidders from last year taking the total to 5.4 average bidders.
As Ray White heads into the first weekend of September the group has 126 properties scheduled to go under the hammer. 
Early Saturday morning, buyers will be flocking to the auction of 21 Prince Alfred Pde (pictured in title) in the hopes of securing themselves a slice of Newport paradise.
Tom Fernon and Noel Nicholson of Ray White Prestige (Palm Beach) have overseen the campaign which Mr Fernon described as strong from start to finish.
The four bedroom home has a price guide of $2.2 to $2.4 million.
<img src="https://f.datasrvr.com/f1/620/57161/Castle_Hill.JPG" width="640" data-imagetype="External">
The auction at 3 Rowallan Ave, Castle Hill (pictured above) is shaping up with Ray White Castle Hill sales agent Sara Perry saying she expects it to be one of the best auctions ever to happen in the Hills District.
“We have had a huge amount of interest in Rowallan Avenue and many buyers have said they want the property at whatever the cost so we are expecting some fierce competition,” Ms Perry said.
Also in the afternoon, Ray White Elizabeth Bay’s Renee Cross is confident she’ll be welcoming a new owner to 91 York Rd, Queens Park. While at Killara, Ray White Upper North Shore Agent Domenic Maxwell said he is equally as confident about the auction of 10/5-7 Spencer Rd.
Capping off the day is 8 Burleigh Avenue, Caringbah being sold through Ray White Caringbah Principal Wendy Samrani.
<img src="https://f.datasrvr.com/f1/620/39379/Mont_Albert_North.JPG" width="640" data-imagetype="External">
This weekend, Ray White Blackburn Director Peter Schenck will be auctioning 3 Allison Rd, Mont Albert North from his living room to an audience of online bidders.
Mr Schenck said this will be the office’s first listing marketed entirely in Stage Four lockdown.
“We’ve still been able to take people through a virtual tour done by the vendor and we’re confident the auction will go well,” Mr Schenck said.
“There has been some really solid interest between the $1.1 to $1.2 million mark and we are expecting it to sell on the higher end of that range," he concluded.
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Melbourne to see less than 50 auctions this weekend

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This week, auction volumes are expected to remain somewhat steady on both a week-on week and year-on-year basis.
CoreLogic are currently tracking 1,190 auctions this week, while final results last week saw 1,154 auctions take place and one year ago 1,111 auctions were held.
In Melbourne, 275 homes are set to be auctioned this week, down on the 357 last week and the 500 last year.
There are 692 Sydney homes set to go under the hammer this week, increasing by over 20% on last week’s volumes (566) and almost double the number of auctions held over the same week last year (367).
Adelaide (46), Brisbane (109) and Canberra (51) all have a lower number of auctions scheduled over the week, while volumes are higher across Perth (17).
<img src="https://www.urban.com.au/images/2020/8/6/CL%20AUG%202.JPG" alt="">
Ray White Drummoyne’ Chris Wilkins is gearing up for a good result this weekend at the auction of 7 Burnell St, Drummoyne (pictured in title).
The newly built five bedroom Drummoyne mansion looks out towards Iron Cove and Rodd Island. 
“We have had 256 groups in just three weeks. There’s been massive interest from older families from across Sydney and we even have a couple of expat buyers looking to come home,” Mr Wilkins said.
<img src="https://f.datasrvr.com/f1/820/68483/Trafalgar_Ave,_Petersham.JPG" width="640" data-imagetype="External">
The two bedroom apartment at 4/347-349 Trafalgar St, Petersham (pictured above) is also set to fly on Saturday with Ray White NSW CEO Jason Andrew calling the auction.
The Petersham unit is being sold by Ray White Surry Hills | Alexandria | Glebe | Erskineville Associate Director Matthew Carvalho who has given out a price guide of $800,000 to $850,000.
“We’ve had a lot of interest in Petersham, it’s one of those popular inner west suburbs that is going through gentrification at the moment and attracting lots of young professionals and young families,” Carvalho said.
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Sydney auction volumes again leaping ahead of Melbourne's Stage 4 slump

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There are 1,115 capital city auctions being tracked by CoreLogic this week, down from 1,485 auctions last week which can be in part be attributed to school holidays.
However volumes remained higher than this time last year when just 953 homes were taken to auction. 
In Melbourne, 417 auctions are scheduled across the city this week, down from 645 auctions last week, although higher than volumes from the same week last year (388).
There are 538 Sydney homes scheduled for auction this week, down from 644 last week according to final figures, and higher than the 359 held one year ago.
Across the smaller markets, scheduled volumes are set to fall week on week across Adelaide, Brisbane, Perth and Tasmania, while a higher volume of auctions are scheduled in Canberra this week\
<img src="https://www.urban.com.au/images/2020/7/2/Auction%20CL%20July%202.JPG" alt="">
Despite school holidays, Ray White said their auction numbers are holding steady with 175 homes going under the hammer on Saturday.
Particularly busy is Ray White Surry Hills | Alexandria | Glebe | Erskineville where 8 auctions are set to take place. 
Associate Director Matthew Carvalho from the inner Sydney group is auctioning two of those eight with both being called by Ray White NSW CEO Jason Andrew.
First up will be Terrace 9, 269 Trafalgar St, Annandale, (pictured in title) which Mr Carvalho said has attracted both upsizers and downsizers from around Sydney.
“Feedback from buyers has been good and they’re particularly liking the size of the house and that it’s got a double garage plus an extra car space which is almost unheard of in the inner west,” Mr Carvalho said.
<img src="https://www.urban.com.au/images/2020/7/2/Auction%202%20July%202.JPG" alt="">
Later in the day will be 134 Catherine St, Leichhardt (pictured above) which is currently getting interest from first and second home buyers. Mr Carvalho said space is a big factor for these buyers and the three bedroom Leichhardt home ticks that box.
“It’s a good layout on a great size plot of land. The buyers are predominantly a little bit younger - couples or families with one child,” he said.
“They’re coming out of apartments and upsizing for more space and to get into more of a community which Leichhardt offers.”
Despite recent uncertainty, Mr Carvalho also said he is finding that good properties are still in high demand.
“Supply is still so low particularly for free standing homes but we’re finding when they are on the market, prices and demand are quite strong and will continue to be so until inventory begins to spike,” he said.
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School holidays impact otherwise strong auction weekend

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Winter may be setting in but lockdown restrictions are continuing to thaw, leading to a rise in auction numbers for this second weekend of June, according to CoreLogic data.
There are 1,179 capital city auctions being tracked by CoreLogic this week, increasing on the 711 auctions last week.
While volumes are expected to be the highest we’ve seen since mid-April, auction activity remains lower than what we would usually see, with 1,505 auctions held over the same week one year ago.
There are 561 Sydney homes scheduled for auction this week, up on the 398 held last week according to final figures, and higher than the 534 held one year ago.
In Melbourne, 467 auctions are scheduled across the city this week, increasing on the 195 auctions last week, however lower than volumes from the same week last year 724.
Across the smaller markets, scheduled volumes are set to remain steady across Perth, while the remaining cities are all expected to see a rise in activity over the week.
<img src="https://www.urban.com.au/images/2020/6/9/CL%20June%2011.JPG" alt="">
The Ray White Surry Hills | Alexandria | Glebe | Erskineville office is heading into the weekend with eight homes going under the hammer on-site.
Examining some highlights, Director Ercan Ersan said the converted warehouse apartment at C80/240 Wyndham St, Alexandria in The Hudson has had 100 groups through and 30 contracts given out.
“It’s the epitome of luxury inner city living designed by the celebrated architects at Allen Jack+Cottier,” Mr Ersan said.
“We’re expecting between 10 and 15 registered bidders and it should break the building record.”
Another standout is 4/11-33 Maddison St (pictured in title) in Redfern with Mr Ersan saying the apartment has one of the best renovations he’s seen.
“We’ve already got five people coming to the auction and it should sell at $1.4 million,” he said.
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Soaring Winter auction volumes as lockdown restrictions thaw

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In total this week, 867 capital city homes were scheduled for auction, with preliminary results returning a 65.9 per cent clearance rate, according to CoreLogic data.
Last week, their findings showed 612 homes scheduled for auction and a final clearance rate of 62.7 per cent, while one year ago, there were 1,661 homes taken to auction and a 58.0 per cent clearance rate.
In Melbourne, 259 homes were scheduled to go under the hammer this week. So far 192 auctions have been reported, returning a preliminary success rate of 71.9 per cent.
The previous week saw a final clearance rate of 68.0 per cent across 168 auctions.
<img src="https://www.urban.com.au/images/2020/5/28/Melb%20May%2031.JPG" alt="">
In Sydney, 469 homes were scheduled for auction this week, returning a preliminary clearance rate of 68.1 per cent across 320 results.
In comparison, last week saw 309 homes taken to auction with a success rate of 65.0 per cent.
<img src="https://www.urban.com.au/images/2020/5/28/Syd%20May%2031.JPG" alt="">
Notably 31 auctions were withdrawn in Sydney last week, the most since mid-April.
Although the number of auctions held remains low, since restrictive policies around open homes and onsite auctions were lifted, the trend has been towards more auctions held and a substantial reduction in the proportion of auctions withdrawn prior to the event.
The number of auctions held this week was the highest since the week ending April 19th.
<img src="https://www.urban.com.au/images/2020/5/28/CL%20MAY%2031.JPG" alt="">
Across the smaller auction markets both Adelaide and Canberra saw preliminary clearance rates over 65% while Brisbane's remained low at just 40.9%
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Clearance rates strengthen but auction volumes remain low

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The combined capital city auction market is expected to see a slight increase in auction volumes this week, with CoreLogic currently tracking 692 scheduled auctions.
Last week, a lower 612 auctions were scheduled across the capital cities.
While scheduled numbers are set to increase, with this week expected to be the busiest since mid-April, volumes remain substantially lower than typical.
Over the same week one year ago, 1,661 capital city homes were taken to auction.
There are 195 Melbourne homes scheduled for auction this week, up on the 168 over the previous week.
Sydney is expected to be the busiest city for auctions for the 6th consecutive week, with 382 properties scheduled to go under the hammer, rising on the 309 held last week.
Across the smaller auction markets, Adelaide, Brisbane and Perth are all expected to see a higher number of auctions held this week, while scheduled volumes are lower in Canberra.
There are no auctions scheduled in Tasmania this week.
<img src="https://www.urban.com.au/images/2020/5/28/CL%20MAY%2024.JPG" alt="">
The final weighted average clearance rate came in at 62.7% last week, surpassing the previous week’s 60.4% as the highest result since the week ending 15 March.
An example of the ongoing auction volume of Sydney is <a href="https://www.realestate.com.au/property-house-nsw-lilyfield-133537266" target="_blank">88 Cecily Street, Lilyfield</a> (pictured in title), set for auction this Saturday.
The four bedroom, two bathroom home has been listed with a price guide of $2.3 million
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Upcoming auction weekend the busiest since April

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There are 472 capital city auctions being tracked by CoreLogic this week, increasing on the 417 auctions last week.
CoreLogic data shows that while volumes are up over the week, auction activity remains significantly lower than what we would usually see, with 2,055 auctions held over the same week one year ago.
<img src="https://www.urban.com.au/images/2020/5/21/CL%20MAY%2021.JPG" alt="">
Sydney is expected to be the busiest auction market for yet another week, with 245 homes scheduled to go under the hammer this week, up on the 194 auctions last week.
There are 123 Melbourne homes scheduled for auction this week, down by only 4 auctions on last week’s final numbers.
Auction activity remains subdued across the smaller cities, with Brisbane &amp; Perth the only capital cities set to see an increase in volumes, with activity across Canberra expected to remain steady over the week and quite a bit lower in Adelaide.
Tasmania has just 2 auctions scheduled this week.
<img src="https://www.urban.com.au/images/2020/5/21/30%20birch.JPG" alt="">
An example of Sydney's auction volume is <a href="https://www.realestate.com.au/property-house-nsw-birchgrove-133456446" target="_blank">30 Rose Street, Birchgrove</a> (pictured above).
The three bedroom one bathroom townhouse sits on a 208 sqm block.
It comes with an auction price guide of $2,000,000 - $2,200,000.
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Auction Volumes

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