Slight increase, but auction volumes still relatively low

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Still in their mid-winter lull, Australia’s capital cities are again expecting a relatively low number of auctions this week.

Across the capitals, volumes are only slightly up, with information form CoreLogic RP Data showing there are 1,705 auctions scheduled for this week compared to 1,674 last week.

Last week saw the capital cities post a final clearance rate of 76.8%.

Sydney is this week’s largest auction market, with 796 homes scheduled to go under the hammer.

That figure is up on last week’s 734 and the 580 seen at this time last year.

Blacktown will be Sydney’s busiest suburb this week, with 14 scheduled auctions.

Melbourne has also seen an increase this week, with 660 auctions scheduled after there was 640 last week.

The Victorian capital will be hoping this is the week it breaks a four-week stretch of final clearance rates below 80%.

Resevoir is the Melbourne and Australian suburb with the most auctions scheduled this week, with 15.

Brisbane’s clearance rate of 63.5% last weekend was its second best since February and the Queensland capital will be
hoping from a similar result from the 120 auctions it has scheduled this week.

Adelaide has 66 auctions scheduled for this week, a decrease on last week and the same week last year which both had 85.

Canberra has 31 auctions set to take place this week, down from 58 last week and 41 last year.

Across Perth 22 homes will be taken to auction over the week, compared to 35 last week and 24 last year.
 

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