Auction volumes remain above 2,000

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Despite a moderation in auction volumes, Australia is set to see more than 2,000 homes go under the hammer for a second straight week.

After 2,675 auctions were held last week, CoreLogic RP Data is currently tracking 2,049 auctions across Australia, with all but on capital city recording a weekly decline.

Last week’s national clearance rate finalised at 69.4%, meaning national rate has not finished above 70% since the week ending 27 March.

Source: Corelogic RP Data

Melbourne is by far the busiest auction market this week, with the Victorian capital set to hold nearly twice the amount of auctions as Sydney.

CoreLogic’s figures show 1,076 auctions are scheduled for Melbourne this week, down from the 1,404 it held last week.

Melbourne finished last week with a final clearance rate of 73.5%, the highest recorded in any market.

This week there are 24 Australian suburbs set to hold 10 or more auctions, all of which are located in Melbourne.

The three busiest individual suburbs for auctions are Bentleigh East (26), Mount Waverley (23) and Brighton East (16).

Sydney is set to hold 606 auctions this week, down from last week’s total of 818.

Sydney finished last week with a final clearance rate of 7.17%, with the City and Inner South (81.1%) and Eastern Suburbs (86.3%) being the city’s strongest sub-regions over the week.

Brisbane is the next busiest individual market and the only city to see an increase in volumes over the week.

The Queensland capital is set to 183 auctions this week, up from 168 last week.

Brisbane finished last week with a final clearance rate of 43%, the lowest of any capital city.

After holding 133 auctions last week, Adelaide is set to hold 84 this week.

Following Melbourne and Sydney, Adelaide had the third highest clearance rate last week at 61%.

In Canberra, 46 auctions are scheduled for this week after the national capital held 97 and returned a clearance rate of 59.1% last week.

Perth returned a clearance rate of 48.7% from a total of 45 auctions this week and is set to hold 41 auctions this week.

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