Melbourne leads the way with 788 scheduled auctions this week

There are 1,556 auctions are scheduled across the nation’s capital cities for this week, with Melbourne leading the way with 788 scheduled auctions, according to RP Data. 

Sydney has 480 scheduled auctions for the week ending April 28.

Auctions slightly slowed across the capital cities last week with 1,387-recorded auctions, a slight drop from 1,410 auctions the week prior, according to RP Data.

This time last year there were 1,159 recorded auctions.

Meanwhile, the national auction clearance rate for last week was 63.7%, an increase from the previous week of 61.8%.

It is a vast improvement from the same time last year where it was 53.2%.

Sydney recorded the strongest auction clearance rate last week of 72.2%, up from 67.2% the week before.

However the number of auctions in Sydney declined from 529 the week prior to 427 last week.

The same time last year Sydney recorded 363 auctions and a clearance rate of 54%.

Melbourne recorded an impressive 712 auctions last week and experienced a clearance rate of 67.7% - an increase from the recorded 66.5% for the previous week.

The same time last year Melbourne recorded a clearance rate of 58.3%.