The approaching Easter break has seemingly lit a fire under vendors across Australia, with the country’s auction market set for what is easily its busiest week this year.
Accroding to figures from CoreLogic RP Data, volume increases in all markets mean 3,369 homes across the country are set to go under the hammer this week in what is the busiest week since the end of November 2015 when 3,729 auctions were held.
After a down week last week due to the Labour Day public holiday, Melbourne has roared back to claim the title of the busiest individual market, with 1,701 auctions scheduled compared to the 420 held last week.
Melbourne’s clearance rate finished at 68.6% last week, the third highest of any market.
Unsurprisingly after the massive increase in volumes, the five busiest individual suburbs; Glen Iris (29), Kew (26), Reservoir (26), Hawthorn (24) and Northcote (23) are all located in Melbourne.
After holding 729 auctions last week, Sydney has managed to push into four figures in terms of volumes, with 1,074 auctions scheduled.
Sydney finished last week with a relatively strong clearance rate of 71.2%, good for the second highest mark in the country.
Mosman, with 21 auctions is set to be Sydney’s busiest suburb this week.
In Brisbane there 257 auctions scheduled after the Queensland capital held 152 last week and returned a clearance rate of 38.5%.
held 95 auctions last week and is expected to see 137 this week.
The South Australian capital posted a final clearance rate of 51.6% last week.
Canberra, which had the nation’s highest clearance rate at 77.8% last week, is set to hold 117 auctions this week, well up on the 37 it held last week.
, volumes have slightly more than doubled, with 74 auctions scheduled this week comparted to last week’s 74.
Perth’s clearance rate finished last week at 42.4%.
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out