Busy week for auctioneers as volumes push past 2,000

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Volume increases across three markets mean Australia’s capital cities are on track to host more than 2,000 auctions this week.

Figures from CoreLogic RP Data show 2,095 auctions are expected to be held this week, up from the 1,827 last week thanks mainly to solid increases in Melbourne, Sydney and Brisbane.

This week’s leader in terms of auction numbers is Melbourne, with 891 homes in the Victorian capital set to go under the hammer this week compared to the 759 held last week.

Melbourne will be hoping the increase in stock brings more buyers out this week after it recorded a clearance rate of 76% last week, the lowest the city has seen since the first week of March.

Melbourne will also be home to the busiest suburb this week, with 17 Glen Waverly homes heading to auction.

While it may have lost the title as the country’s biggest auction market this week, Sydney has also seen a solid rise in volumes this week, with 875 auctions scheduled for this week after 794 were held last week.

Like Melbourne, Sydney will also be hoping to see its clearance rate trend upwards after recording two straight sub-80% weeks.

Moving north, Brisbane’s auctioneers are expected to be busier this week with 177 homes up for sale compared to the 115 last week.

Adelaide has stayed relatively consistent over the past week, with 81 auctions this week compared to 79 last week.

Canberra is expecting 47 auctions this week compared to 40 last week, while Perth has seen a small decrease, down to 19 from 21.
 

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