Auction volumes pull back after elevated fortnight

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 After two straight weeks of more than 2,000 auctions being held across the country, Australia’s auction market has moderated somewhat this week.

CoreLogic RP Data is currently reporting that all Australian capital cities will see a fall in auction volumes this week, with 1,718 auctions scheduled this week compared to the 2,230 held last week.

Last week’s national clearance rate finalised at 67.7% and marked the third straight weekly decline.

After holding 1,150 auctions last week, volumes in Melbourne have fallen back into triple digits this week with just 821 scheduled.

Melbourne finished last week with a clearance rate of 73.2%, the highest mark recorded in any capital city.

The busiest suburb in Australia this week is Richmond in Melbourne’s south-east with 14, while Glen Iris, Glen Waverley and Mount Waverley are all scheduled to hold 13.

After holding 676 auctions last week, Sydney has seen its expected volumes fall to 567 this week.

Last week saw Sydney’s clearance rate finish at 71.8%, the next best behind Melbourne and an improvement on the previous week’s 71.7%.

CoreLogic is currently tracking 140 scheduled auctions in Brisbane for this week compared to the 195 held in the Queensland capital last week.

Brisbane finished last week with a clearance rate of41.2%, the second lowest recorded over the week.

The lowest clearance rate last week was recorded in Perth at 23.5% from the city’s 50 auctions.

This week Perth is expected to hold 43 auctions.

Volumes are also relatively steady in Adelaide, with 92 auctions scheduled this week compared to last week’s 94.

Adelaide’s final clearance rate came in at 59.8% last week, the best in the country behind Sydney and Melbourne.

Volumes are also relatively steady in Canberra this week, with the nation’s capital to hold 47 auctions this week, just below last week’s total of 50.

Canberra’s final clearance rate last week was 54.3%.

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