Auction volumes back up after quiet week

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More than 3,000 residential auctions are scheduled across Australia’s capital cities this week according to figures from CoreLogic RP Data.

The nation’s auction markets had a quiet week last week, with the NRL and AFL grand finals combining with a long weekend in many states to keep auction volumes to just 841.

Volumes have rebounded this week, though, with 3,062 homes set to go under the hammer.

Melbourne will again be the busiest market for the week, with 1,411 auctions scheduled after holding just 98 last week.

The scheduled number for this week is the Victorian capital’s third highest total for the year and is higher than the 1,123 auctions held over the same weekend last year.

Sydney has also seen a marked increase in the number of auctions scheduled, with this week’s total more than double that of last week.

The harbour city has 1,230 auctions scheduled this week, up from the 583 held last week.

This week’s figure is also higher than that of the same weekend last year, when 918 auctions were held.

With Melbourne and Sydney supplying the majority of the nation’s auctions, it’s no surprise the busiest individual suburbs are found within those markets.

Mount Waverly in Victoria is host to 31 auctions this week, the highest number of auctions in any one Australian suburb, followed by Reservoir (Vic) with 25, Glen Waverley (Vic) with 21, Mosman (NSW) and Northcote (Vic), both with 18.

The remaining capital cities have also seen their volumes rise this week, albeit more modestly than in Sydney and Melbourne.

Brisbane is set for its busiest week since May, with 186 auctions set down for the week, while Adelaide will see 129 auctions this week after just 33 last week.

In Perth, 34 auctions are scheduled, while Canberra is set to hold 65. 

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