Melbourne back to the fore as auction volumes rise

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Australia’s auction market will be busier again this week, with a slight increase in the number of homes scheduled to go under the hammer.

CoreLogic RP Data is currently tracking 1,677 auctions across Australia’s capital cities, up from the 1,582 that were held last week.

Last week’s national clearance rate finalised at 66.6%, down from the previous week’s 70.9%.

After being outstripped in recent weeks by Sydney, Melbourne has regained the title of the nation’s busiest auction market, with the Victorian capital scheduled to hold 730 auctions this week.

Last week saw Melbourne hold 584 auctions, returning a clearance rate of 69.2%.

The three busiest individual suburbs for auctions this week are all located in Melbourne, with 17 auctions scheduled to take place in Mount Waverley, 16 in Reservoir and 14 in Preston.

Sydney looks set for slight fall in volumes this week, with only 624 auctions currently scheduled.

Last week the harbour city held 664 auctions, with its clearance rate coming in at 69.8%.

Despite not breaking the 70% barrier some pockets of the city, including the City and Inner South (91.4%) and Eastern Suburbs (90.5%), produced strong results.

In Brisbane, volumes look to have slightly increased, with 145 auctions scheduled compared to last week’s 141.

Brisbane’s clearance rate finalised at 52.9%.

Adelaide is home to slight fall in volumes over the week, the South Australian capital scheduled for 70 auctions this week compared to last week’s 76.

Adelaide finished last week with a nation leading clearance rate of 71.2%.

Canberra has seen a similar small fall in volumes, with 65 scheduled this week, compared to last week’s 68, from which a clearance rate of 50.8% was recorded.

After holding 40 auctions last week and returning a clearance rate of 46.9%, Perth will hold 32 auctions this week.

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