Public holidays to subdue auctions following strong fortnight: RP Data

Less than half the number of auctions from each of the previous two weeks will be held in Australian capital cities this coming week, according to RP Data.

There are a number of public holidays across Australia next Monday so it is expected that auction volumes will be subdued.

While there were a comparable amount of auctions in capital cities in each of the past two weeks - 1,984 last week and 2,004 held the week prior - this week only 961 auctions are scheduled.

Sydney (517 scheduled auctions) will hold more than double the number of auctions planned for Melbourne (221 scheduled auctions).

Across Australia’s largest auction market, Melbourne, there were 986 auctions held last week and the clearance rate was recorded at 66.9 per cent, down from 69.5 per cent the week prior.

Last week, Sydney’s auction clearance rate stayed relatively steady at 64.2 per cent, compared to 63.4 per cent over the previous week. There were 751 auctions held in Sydney last week, up from 618 the week prior.