Auction volumes above 2000 for the third straight week

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Australia’s capital cities are set to hold more than 2,200 auctions this week as volumes increase on last week.

According to CoreLogic RP Data, there are 2,250 residential auctions scheduled this week compared to 2,118 last week.

The figures show national combined clearance rate took a hit last week, falling to 74.6% from 76.9% the previous week.

Melbourne has retaken the mantle of the country’s auction capital for the week, with a national high of 962 homes set to go up for sale, an increase on last week’s 908.

The Victorian capital is also set to be home to the two busiest suburbs in the country, with the neighbouring Mount Waverley and Glen Waverley set to hold 18 and 17 auctions respectively.

Melbourne’s final clearance rate for last week came in at 76.5%, a week on week drop of 2%.

Auction volumes in Sydney have improved by the smallest possible of margins, with 916 homes scheduled to go under the hammer compared to the 915 last week.

While volumes are not up, Sydney will be hoping for a spike in its clearance rate after last week’s final rate dropped to 77.3%.

Volumes are also set to rise in Brisbane, up to 160 this week from 130 the previous week, while Canberra is up to 77 from 50.

Auctioneers are also set to be busier in Perth as volumes increase to 41 from 27, while Tasmania has seen numbers nearly triple over the week, from five to 14.

Adelaide is the only market this week to see a decrease in volume numbers, down to 79 from 83 last week.
 

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Comments
  • Shame says on 22/08/2015 05:57:09 PM

    Auctions are fast becoming the domain of the IDIOT !!!! I was at an auction today, one bidder bid against himself 3 times!!! LOL

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