More than 2,200 auctions expected this week

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Despite a drop in volumes in most capital city auction markets, more than 2,200 homes across Australia are expected to go under the hammer this week.

CoreLogic RP Data is currently tracking 2,230 auctions this week compared to last week’s 2,701, with Sydney and Melbourne both seeing declines in terms of volume.

Last week’s national clearance rate finalised at 71.4%, a slight decrease from the previous week’s 71.8%.

Melbourne continues its run as the nation’s busiest market, with the Victorian capital set to hold 1,179 auctions this week, down from the 1,347 it held last week.

Last week saw Melbourne post the highest clearance rate of any capital city at 74.8%.

The nation’s busiest individual suburbs will be in Melbourne this week, with 25 to be held in St Kilda, 23 in Reservoir and 19 in Mount Waverley.

After closing in on triple digits with 919 auctions last week, Sydney has seen its predicted volume fall back to 701 for this week.

The harbour city broke the 70% barrier last week with a final clearance rate of 72.1% and this week Maroubra will be its busiest suburb as it holds 11 auctions.

Volumes are also down in Brisbane, with 126 auctions predicted for this week after the city held 179 auctions last week.

The Queensland capital finished last week with a final clearance rate of 57.4%.

There will be less activity for auctioneers in Adelaide as well, with 96 auctions scheduled compared to last week’s 121.

Last week saw Adelaide return a final clearance rate of 64%.

After holding 50 auctions last week and returning a clearance rate of 35%, Perth is expected to hold 29 auctions this week.

Canberra, which held 75 auctions last week and posted a clearance rate of 72.3% last week, is the only market predicted to be busier this week, with 88 auctions scheduled.
 

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