Subdued run continues for auction volumes

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Australia’s auction market started has 2016 at a slow pace according to figures from CoreLogic RP Data.

Prior to this week, 2016 had only seen 281 auctions held across the country, compared to 419 held during the corresponding period in 2015.

While the market will get somewhat of a boost this week, with more than 700 homes scheduled for auction, scheduled auctions are lower this week compared to the same time last year in more than half of the markets tracked by CoreLogic.

Melbourne is the nation’s busiest auction market this week, with the Victorian capital to hold 255 auctions, slightly lower than the 255 held 12 months ago.

Auction volumes in Sydney this week are only slightly lower than Melbourne’s, with the harbour city set to hold 224 auctions.

That mark is well below the number held in the corresponding week last year, when 421 auctions took place in Sydney.

In Brisbane, 99 auctions are scheduled for this week, compared to the 109 held at the same time last year.

Canberra is expecting 66 homes to go under the hammer this week, slightly down on the 69 held on this week in 2015.

Adelaide is set to hold 98 auctions this week, up from the 94 held a year ago.

Thirty-six auctions are scheduled for Perth, compared to 31 it held 12 months ago.

With the subdued volumes being seen around the nation, the highest number of auctions in any suburb is just six, with Nelsons Bay located in New South Wales’ Hunter region, Buderim in Queensland’s Sunshine Coast and the Melbourne suburb of Lalor, all sharing the honour.

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