According to figures from CoreLogic RP Data, more than 3,000 auctions will be held across the nation’s capital cities this week, up from the 2,858 held last week.
While the number of auctions has been going up in recent weeks, the national clearance rate hasn’t, with it being recorded at 67.4% for last week.
Melbourne will again be the biggest auction market this week, with the Victorian capital to hold more than half of the country’s auctions this week.
Across Melbourne there are 1,710 auctions scheduled, up from the 1,481 that were scheduled last week and making this week Melbourne’s busiest for the year.
Last week Melbourne was the pick of the capital city markets, with its clearance rate of 72.7% the nation’s highest despite having the highest number of auctions as well.
This week the busiest individual suburbs will all be located in Melbourne, with Glenroy to hold 30, while Reservoir will hold 23 and Mount Waverley 22.
In Sydney, auction volumes have fallen out of four-figure territory, with the harbour city to hold 996 auctions this week, down from the 1,063 held last week.
Vendors will be hoping the reduced stock on offer will encourage more competition among buyers after last week’s final clearance rate for Sydney was recorded at 63.7, the lowest the city has seen in more than two years.
Brisbane is expecting a solid increase in volumes this week, with 213 auctions scheduled after the Queensland capital held 145 last week.
Adelaide is expecting 109 auctions this week after holding 93 last week, while Perth is set for 35 auctions this week, compared to 16 last week.
Canberra’s auction market activity will slow down this week, with 60 auctions expected, compared to 86 last week.
