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For the first time since the middle of June, CoreLogic is expecting national auction volume to tick above 2,000.
There are set to be 2,086 auctions held nationwide this coming week, with the 14.9 per cent rise on the previous week’s 1,816 part of a trend of steadily increasing volume.
Sydney is on track to overtake Melbourne as the busiest capital city this week, with the harbour city set to host 859 auctions over the week ending 28 August, a 34.4 per cent increase on the 639 from last week and 45.1 per cent higher than the 592 reported over this time last year.
The elevated figures come off the back of Sydney reporting a final clearance rate of 59.1 per cent for the week ending 21 August, with the eastern suburbs’ 72.4 per cent the highest among its subregions.
There are 832 homes scheduled to go under the hammer this week in Melbourne, a 6.8 per cent jump on last week’s 779, yet down 10.3 per cent on the 928 seen this time last year. The Victorian capital concluded the previous week with a clearance rate of 60.8 per cent, with its outer-east region’s 72.6 per cent making it the most successful subregion.
Throughout the smaller capitals, Brisbane (146) is set to be the busiest despite a 4.6 per cent activity decrease, followed by Adelaide’s 137 auctions, a figure achieved by a 10.5 per cent jump in volume.
Canberra has 88 auctions scheduled — a 13.7 per cent drop from the week prior — while Perth is expecting the biggest volume increase — 40 per cent — culminating in 21 auctions being held, while Tasmania is expecting three auctions.
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