Another week with more than 2000 auctions expected

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Auctioneers across Australia look set for another busy week, with more than 2200 auctions expected to be held this week.

CoreLogic RP Data has predicted there will be 2,255 auctions across Australia’s capital cities this week, similar to the 2,268 held last week.

Melbourne will again be the nation’s biggest auction market, with 1,009 auctions expected this week.

That figure is a slight decrease on last week’s total of 1,084, but is much higher than the 811 auctions that took place this weekend last year.

The individual suburbs with the highest number of auctions are again in Victoria, with Balwyn North (21), Glen Waverley (18), Kew and Mount Waverley (both with 17) leading the way.

While Melbourne may have it beat in terms of auction volumes, Sydney is maintaining its position at the top of Australia’s clearance rate rankings.

The New South Wales capital recorded a clearance rate of 82.4% last week and has maintained a clearance rate over 80% for the year.

This week is expected to see 909 homes go under the hammer, an increase from 862 from last week and the 861 for this weekend last year.

Brisbane has also seen an increase in volumes this year, with 141 auctions set down for this week compared to the 128 held last week.

The nation’s capital also saw a jump in volumes, with Canberra to hold 71 auctions this week compared to the 52 it held last week and the 35 this weekend last year.

Canberra will also be looking to continue to keep its recent run of strong clearance rates a live after being above 68% for the last two weeks.

In Adelaide, 75 auction properties are being monitored this week, slightly down on the 83 last week and 79 at the same time last year.

Perth has 30 homes scheduled for auction this week, down from 47 last week and 39 at the same time last year.
 

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