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CoreLogic reports that auction volumes for the week ending 14 April are set to be similar to the week prior.
Auction market volume is set to see little deviation from the week ending 7 April 2024, with CoreLogic revealing that 1,980 capital city homes are set to go under the hammer over the week ending 14 April 2024, a figure only slightly below the 1,985 homes that went to auction last week.
Melbourne is set to be the busiest auction market this week with 867 homes scheduled for auction, a 6.8 per cent increase over last week’s activity levels and a 21.4 per cent increase on this time last year.
Sydney’s auction volume has also remained strong with 854 homes set to go under the hammer, a marginal increase of 0.6 per cent on last week and a heftier 26 per cent increase over this time last year.
Across the smaller capital cities, the two busier auction markets of Brisbane and Adelaide have seen their auction volumes measurably decrease.
Brisbane’s 104 homes slated for auction mark a 15.4 per cent decrease, while Adelaide’s 73 homes up for auction register a weighty 40.2 per cent decrease from last week.
Canberra has seen a slight upswing with 76 properties, whereas Perth is down with only four properties scheduled for auction.
Tasmania’s two homes for auction pencilled in mark a twofold increase over the one home taken to auction last week.
Looking further ahead, an early view of auction volumes for the week ending 21 April showcases that activity is set to decrease, with CoreLogic predicting just over 1,850 homes to be up for grabs across the combined capitals.
The latest auction expectations from CoreLogic come as the final clearance rates were tallied for the first week of April, which saw an increase in auction success across the combined capitals to 67 per cent – the highest final clearance rate since the week ending 10 March 2024.
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