After its fourth busiest week of the year last week, Australia’s auction market has pulled back somewhat this week.
CoreLogic RP Data is currently tracking 1,936 auctions across Australia’s capital cities, down from the 2,480 held last week.
Last week’s national clearance rate finalised at 67.7%, down from the previous week’s mark of 68.9%.
Melbourne is again the busiest individual market, with the Victorian capital set to hold 941 auctions this week.
Last week saw Melbourne hold 1,170 auctions and finish with a final clearance rate of 71.5%, the second highest mark for the week.
Nine of Australia’s 10 busiest suburbs are in Melbourne, with Glen Iris set for the most activity with 17 auctions scheduled. The next busiest will be Epping and South Yarra, both of which are set to hold 15 auctions.
In Sydney, 641 homes are scheduled to go under the hammer this week, down from the 811 that did so last week.
Sydney finished last week with a clearance rate of 73.2%, the highest mark recorded over the week.
Mosman, with 11 auctions will be Sydney’s busiest suburb and is the only non-Melbourne suburb in the top-10 busiest this week.
After holding nearly 200 auctions last week, Brisbane’s volumes have fallen to 119 this week.
The Queensland capital finished last week with a clearance rate of 41.7%, the second lowest mark recorded.
held 125 auctions last week, but volumes look to have pulled back to double digits, with just 97 scheduled this week.
Adelaide’s clearance rate finalised at 52.6% last week
Following Sydney and Melbourne, Canberra had the next best clearance rate last week, with the nation’s capital finishing the week at 70.5% from 109 auctions.
This week Canberra is scheduled for 77 auctions.
recorded the lowest clearance rate of nay market last week at 30.6% from it 58 auctions and is set to hold 26 auctions this week.
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