Busy weekend for Sydney and Melbourne as auction volumes pass 3000

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Australia’s auctioneers are set for another busy weekend, with more than 3,300 homes across the country to go under the hammer, according to figures from CoreLogic RP Data.

The selling season isn’t slowing in either Melbourne or Sydney, with the two combining for more than 2,700 auctions.

Melbourne will be the nation’s most active market for the week, with 1,563 auctions scheduled, on par with figures from the corresponding week last year.

Last week Melbourne held 1,204 auctions, and its clearance rate saw a weekly rise from 65.6% to 69%.

Sydney sellers have 1,270 homes on the block this week. While volumes are relatively similar to last week, vendors will be hoping the harbour city’s clearance rate records some upward movement after finalising at 58.4% last week.

That mark was down from the previous week’s 60.2% and is the lowest clearance rate recorded in Sydney since the Easter long-weekend in 2013. It also marked the ninth straight week Melbourne has recorded a higher clearance rate than Sydney.

The two busiest suburbs this week are Melbourne’s Reservoir with 29 auctions and Sydney’s Mosman with 20.

Brisbane is set to have a relatively busy weekend, with 207 auctions scheduled for this week, compared with 168 last week.

The other capital markets are set for quieter weekends, with auction volumes down from 122 to 97 in Canberra, down from 146 to 121 inAdelaide and down from 44 to 37 in Perth.
 

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