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CoreLogic is predicting auction volumes will once again rise, after three weeks of dampened activity.
Following on from what was reported as the quietest week since mid-June, 1,646 homes are set to go under the hammer over the course of the week, representing a rise of 11.9 per cent from last week’s 1,471.
Despite this jump, these figures are still down on both the activity seen two weeks ago (1,913) and the same period last year (1,822).
Having overtaken Melbourne as the busiest capital city this week, Sydney is set to host 662 auctions, a 37.9 per cent jump on the week prior’s 480. Last week’s result saw the city’s final clearance rate registered at 56.4 per cent, revised down from 60.6 per cent at the preliminary count.
The Victorian capital has 619 auctions scheduled for the week ahead, which is in line with the figures seen during the previous week, but down 30 per cent on the same week in 2021, when 884 auctions were held. Last week’s preliminary clearance rate of 61.7 per cent was finalised to 58.4 per cent.
Across the smaller capital cities, auction activity is also expected to rise in Canberra, with a 30.4 per cent volume increase culminating in the nation’s capital expecting to host 90 auctions.
A 9.4 per cent decline in activity means there are 135 auctions forecast for Brisbane this coming week, making it the busiest of the smaller national capitals. Meanwhile, 123 homes are set to go under the hammer in Adelaide this week, courtesy of a 15.2 per cent drop in activity.
Perth will play host to nine auctions this week, while one auction is scheduled for Tasmania.
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