Auction volumes return to normal with 1,586 scheduled around Australia this weekend: CoreLogic
Auction volumes are set to markedly increase this weekend, with 1,586 auctions scheduled to take place in capital cities around Australia, according to data from CoreLogic. The figure is up from 493 last week, when auction activity slowed down over the Easter period.
Melbourne is expected to see the most significant increase in volumes over the week, with 743 properties to go to auction, up from 102 last week.
Across Sydney, auction volumes are set to double, with 543 auctions scheduled to take place, increasing from 279 last week.
Outside of Sydney and Melbourne, each of the remaining capital cities will also see a higher number of auctions this week compared to last week.
Victoria has the busiest suburbs for auctions this week, with 19 homes set to go under the hammer in Craigieburn, followed by Glen Waverley, Melbourne and Werribee where each will host 12 auctions.
Overall auction activity is also set to be higher than the corresponding week last year, which recorded 1,565.
The Easter period saw a decrease of auction activity across the combined capital cities, with a total of 493 auctions held, down significantly from 3,517 auctions the week prior when the busiest week for auctions so far this year was recorded.
The final auction clearance rate fell slightly, from 74.8 per cent the previous week to 73.9 per cent last week.
Melbourne was the best performing capital city auction market last week, with 81.3 per cent of the 102 auctions successful. However, Sydney had the highest volume of auctions, with 279 held and a clearance rate of 77.0 per cent.
Across the smaller capital cities, clearance rates improved week-on-week in Adelaide, Canberra and Perth, however volumes were significantly lower across each market last week compared to the week prior.
Across the non-capital city auction markets, the Geelong region recorded the strongest clearance rate at 94.7 per cent, while the Gold Coast had the highest number of auctions (34).