The Australian auction market recorded its busiest weekend since the implementation of COVID-19 measures, with the number of scheduled auctions exceeding the 1,000 mark, according to the latest CoreLogic figures.
Over the weekend, 1,164 houses went under the hammer, returning a liquidation rate of 63.3%. During the previous weekend, 711 auctions were held, which gave a final success rate of 56.2%.
"Although volumes remain lower than a year ago, the gap was smaller this week, with 1,505 auctions held a year ago when 61.8% were liquidated, "said Jade Harling, analyst at CoreLogic.
Read also: Buyers, sellers starting to return?
Sydney has become the best performing capital for auctions, reporting activity for 532 homes and a success rate of 67.3%.
Strong activity was also recorded in Melbourne, which hosted 474 auctions which returned a liquidation rate of 61%. This was more than double the volume of auctions held the previous weekend.
In small auction markets, Canberra stood out, with a preliminary auction liquidation rate of 75.8%, while only 20% of the Perth auctions reported a positive result.
The table below shows the performance of the auction market in each capital:
Main suburbs:
Mayfield
,
thebarton
,
melton
,
west wodonga
,
mt lawley
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