Melbourne set for near record on busiest weekend auction of the year: CoreLogic

Melbourne set for near record on busiest weekend auction of the year: CoreLogic
Melbourne set for near record on busiest weekend auction of the year: CoreLogic

There are set to be nearly 3,700 capital city auctions this week, which is set to be the busiest week so far for auctions this year, according to CoreLogic.

The property data firm suggest the increased activity is traditionally seen over the week prior to Easter.

It's expected that the number of homes scheduled for auction this week will be higher than final figures from the pre-Easter week last year when a total of 3,517 auctions were held across the capital cities.

Apart from Tasmania, all capital cities have increased auction volume from last week.

Melbourne is expected to see a record number of auctions held this week, with 1,934 Melbourne homes scheduled to go under the hammer.

This is not only set to be the highest number of auctions this year, but the second busiest week on record ever for the city, with the possibility of surpassing the busiest week recorded (29th October 2017- 1,983 auctions) with volumes usually revising upward as final results are collected.

Across Sydney, there are 1,255 homes scheduled to go to auction this week, increasing from the 1,093 held last week, however lower than the 1,436 auctions held over the pre-Easter week last year.

Melbourne set for near record on busiest weekend auction of the year: CoreLogic

 

Adelaide, Brisbane, Canberra and Perth are all set to see a higher volume of auctions week-on-week and also higher than the pre-Easter week last year.

The busiest suburb is Melbourne's Reservoir, which has 39 residential dwellings for auction. 

There's then a big gap to Richmond which is expected to have 31 properties go under the hammer.

Randwick has Sydney's largest volume with 26 properties.

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

Tags: 
Residential Auctions Corelogic

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