Upcoming auction weekend the busiest since April

Staff reporterMay 27, 20200 min read

The combined capital city auction market is expected to see a slight increase in auction volumes this week, with CoreLogic currently tracking 692 scheduled auctions.

Last week, a lower 612 auctions were scheduled across the capital cities.

While scheduled numbers are set to increase, with this week expected to be the busiest since mid-April, volumes remain substantially lower than typical.

Over the same week one year ago, 1,661 capital city homes were taken to auction.

There are 195 Melbourne homes scheduled for auction this week, up on the 168 over the previous week.

Sydney is expected to be the busiest city for auctions for the 6th consecutive week, with 382 properties scheduled to go under the hammer, rising on the 309 held last week.

Across the smaller auction markets, Adelaide, Brisbane and Perth are all expected to see a higher number of auctions held this week, while scheduled volumes are lower in Canberra.

There are no auctions scheduled in Tasmania this week.

The final weighted average clearance rate came in at 62.7% last week, surpassing the previous week’s 60.4% as the highest result since the week ending 15 March.

An example of the ongoing auction volume of Sydney is 88 Cecily Street, Lilyfield (pictured in title), set for auction this Saturday.

The four bedroom, two bathroom home has been listed with a price guide of $2.3 million

Staff reporter

Tags:
Auctions
Auction Volumes
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