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Aside from Tasmania, every Australian capital city is anticipating an increase in auction volume in the week ahead, according to CoreLogic.
As such, activity is set to increase 7.2 per cent from last week, culminating in 2,326 homes going under the hammer across the country this week – as opposed to 2,170.
Despite this, volume levels remain firmly below those reported this time last year (37.5 per cent) , a trend expected to remain during the closing weeks of spring and advent of summer due to diminished selling conditions.
Nation-leading Melbourne’s activity will fall just short of the 1,000 mark, with 998 auctions expected to be held across the Victorian capital this week, up 6.4 per cent on a week earlier. However, this figure remains 39.8 per cent below levels recorded during the same time last year (1,657.)
The city’s outer east was its strongest performing region, with 69.8 per cent of its 63 auctions returning a positive result, whereas the Mornington Peninsula was the weakest performer as just over half (51.7 per cent) of its 29 auctions were successful.
In Sydney, 810 homes are currently scheduled for auction, marking its busiest week since the end of June (890) as a result of a 4.5 per cent activity increase. Last week, the harbour city’s final clearance rate dropped below 60 per cent for the first time in four weeks (58.4 per cent).
Blacktown (70.6 per cent) just edged the inner west (70.3 per cent) as Sydney’s most successful sub-region. Meanwhile, the Central Coast was the poorest performing sub-region, mustering a 30.6 per cent final clearance rate from 36 total auctions.
Brisbane remains the busiest of the smallest capital’s, thanks to a 14.9 per cent activity increase resulting in 201 homes scheduled to go under the hammer this week. Adelaide sits second as 154 auctions are set for the coming week, level with last week’s 153.
National capital, Canberra, will host 131 auctions this week, up 20.2 per cent from last week’s 109. Perth is expecting 30 auctions, up from 17 last week, while just two are scheduled in Tasmania.
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