Auction volumes back up after long-weekend

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After a down week due to the long-weekend, auction volumes have risen by almost 60% this week.

Information from CoreLogic RP Data shows that for the week ending June 14 1,905 auctions are scheduled across Australia, up from 1,201 for the previous week.

Melbourne has seen the biggest increase in volumes over the past seven days, with volumes more than doubling.

This week will see 864 homes go under the hammer compared to 315 last week.

The limited stock last week did little to slow demand, with the Victorian capital recording a clearance rate of 80.3%.

Melbourne’s South Yarra is expected to be the suburb with the highest number of auctions, with 21 scheduled.

Sydney will see an additional 150 homes up for auction this week, up to 753 from 603 last week.

The harbour city will be looking to keep up its strong clearance rate run; last week’s clearance rate of 88.7% was the eighth straight week the rate has been above 85%.

This weekend last year Sydney’s clearance rate was only 69.3%.

Adelaide will be hoping its clearance rate continues to strengthen after recording a rate of 71.2% from 62 auctions last week.

The city of churches has 80 auctions scheduled for this week and will be hoping to replicate a rate similar to last week, the highest in the city since the first week of April.

The nation’s capital will also see an increase, with 53 auctions scheduled for Canberra compared to 38 last week.

Brisbane is set for a small decrease in volumes, with 120 auctions scheduled for this week after 130 last week.

Perth is also expecting a decrease, with 28 auctions set down for the week after 43 last week.

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