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CoreLogic is reporting that national auction volumes are anticipated to rise above not only the levels seen last week — but also those recorded during the same period last year.
There are 1,877 homes scheduled to go under the hammer this week, up 16.5 per cent from last week’s 1,611 and 6.4 per cent higher than this time last year — when there were 1,764 properties up for grabs.
Melbourne is expected to be the busiest national capital city, with 786 auctions scheduled to occur in the Victorian capital, a rise of 20 per cent on the previous week’s 640. The city’s clearance rate last week was revised down to 58.8 per cent, up 40 basis points, representing the third consecutive week of rate rises.
Meanwhile, there are 710 homes expected to go under the hammer across the harbour city this week. This volume level makes a 15.4 per cent increase on the 615 auctions Sydney hosted last week and sits 38.1 per cent above the 514 auctions that took place during the same time last year. It follows the city reporting a clearance rate that revised down to 54.7 per cent at final count from last week, down 1.7 percentage points from the week prior.
Across the smaller capital cities, Brisbane is set to host the most auctions, with 155 currently pencilled in. The Queensland capital concluded last week with a 39.5 per cent clearance rate.
Adelaide is the next busiest, with the South Australian capital hoping its 122 auctions will help it improve on its 65.3 per cent final clearance rate from last week.
Canberra’s auction levels are set to hit triple digits this week, with 104 set to take place in the nation’s capital in its bid to better last week’s final clearance rate of 57.6 per cent. Perth is set to host 14 auctions, while four are scheduled in Tasmania this week.
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