Auction volumes jump past 2,000

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Australia’s auction market has kicked up a gear, with figures from CoreLogic RP Data revealing more than 2,000 auctions are set to be held across the country this week.

According to CoreLogic, 2,005 auctions are scheduled for this week, up from the 1,400 that returned a national clearance rate of 71.8% last week.

Close to half of those will be held in Melbourne, with the Victorian capital set to hold 949 auctions this week.

That figure is up from the 556 auctions that were held last week in Melbourne and delivered the Victorian capital a clearance rate of 74.4%.

Melbourne is also home to Australia’s busiest suburbs this week, with Richmond to hold 24, while 16 will be held in Bentleigh and Reservoir.

Last week saw Sydney return a nation-leading clearance rate of 78.1% and vendors will be hoping the city can produce a similar result this week after a solid jump in volumes.

Sydney is scheduled to see 668 homes go under the hammer this weekend, up from the 513 it held last week.

Adelaide was home to the next best clearance rate last week, returning a final result of 75% from 91 auctions.

Volumes in the South Australian capital have remained relatively steady over the week, with 92 auctions scheduled for this week.

Brisbane is expecting busier week, with 160 auctions this week compared to the 111 it held last week.

Vendors will be hoping Brisbane’s clearance rate experiences a similar increase, after coming in at just 48.4% last week.

Auction volumes in Canberra are expected to reach 90 this week, up from the 59 held in the nation’s capital last week.

Canberra’s clearance rate las week finalised at 71.2%.

Perth is the only capital city to see a decrease in volumes this week, with only 40 auctions scheduled compared to the 46 it held last week, from which it returned a clearance rate of 31.6%.

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