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As the nation emerges from the lull of the Queen’s birthday long weekend, so too do auction volumes, which are once more on the rise.
CoreLogic is reporting that this week’s national auction activity is set to hit 2,603, an 88.8 per cent increase on the previous week’s 1,379.
Volumes in every capital city barring Perth are expected to rise, with Melbourne once again reclaiming the top spot as the nation’s busiest capital.
The Victorian capital is set to see 1,276 homes go under the hammer this coming week, representing an incredible 183.6 per cent rise on the 450 held amidst the Queen’s birthday celebrations. Last week’s results saw a final clearance of 52.4 per cent, marking the lowest rate seen in Melbourne since September 2021 (43.8 per cent).
In Sydney, volumes are expected to rise up to 58.4 per cent, with the Harbour city set to host 857 auctions this coming week. While this figure represents a week-on-week increase, it is still down 25.9 per cent from the same time last year. Similar to Melbourne, Sydney also recorded one of its lowest clearance rates (54.3 per cent) since April 2020.
Throughout the smaller capital cities, Adelaide is expected to be the busiest of them all, with 182 homes scheduled for auction during the week, a jump on the 141 from last week. Moreover, in Brisbane, auction volumes are predicted to rise by 4.3 per cent this week to hit 169, after a particularly strong performance last week, when it was one of only two capitals to not celebrate the long weekend.
Canberra’s activity is up 57.6 per cent from last week’s 66, with 104 homes going under the hammer in the nation’s capital this week. Perth will see a decline in activity, down to 13 auctions this week compared to the previous week’s 19, while in Tasmania, there are two auctions scheduled to go ahead.
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