Volumes steady as auction market seeks stronger results

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Auction volumes look to have remained relatively steady over the week, with CoreLogic RP Data currently tracking 1,758 auctions this week compared to the 1,876 held last week.

Last week’s national clearance rate finalised at 69.5%, the seventh straight week it has failed to pass the 70% barrier.

According to CoreLogic’s figures, 29,426 capital city auctions have been held in so far in 2016, compared to 32,616 over the same period last year.

Melbourne is again the busiest market this week, with the Victorian capital set to hold 778 auctions this week.

Last week saw Melbourne hold 871 auctions and return a clearance rate of 71.3%, the sixth straight week the city’s result has been above 70%.

Glen Waverley and Richmond are Melbourne’s busiest suburbs this week, with 13 auctions, while Thomastown will hold 12.

In Sydney, CoreLogic is currently tracking 669 auctions this week, up from the 647 held in the harbour city last week.

Sydney finished last week with the nation’s highest clearance rate at 76.2% and made it four straight weeks above 70%.

Mosman is Sydney’s and Australia’s busiest suburb, with 18 auctions scheduled.

In Brisbane, auction volumes have taken a dip this week, with 117 scheduled compared to last week’s 151.

Brisbane’s final clearance rate last week was 49.3%, the second lowest mark recorded over the week.

Volumes have also fallen this week in Adelaide, down from 103 to 84.

Adelaide finished last week with a clearance rate of 66.3%, the best mark of any city behind Sydney and Melbourne.

Canberra is set for a busier week, with 65 auctions scheduled this week after holding 52 last week, from which its clearance rate was 58.3%.

Perth is scheduled to hold 37 auctions this week, down from its 44 last week.

Perth’s final clearance rate of 28.9% was the lowest recorded last week.

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