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According to CoreLogic, almost all of the national capital cities are expected to experience an auction volume increase this coming week.
There will be 1,969 homes going under the hammer nationwide throughout the week, representing an 8.7 per cent increase on the week prior and the third consecutive week where the upward trend has continued.
Despite being below the weekly average recorded over the June quarter (2,418), this level of activity is a 10.4 per cent jump on the weekly average recorded over last year’s September quarter (1,783).
Last week’s results saw the weighted average clearance rate for all capitals end up at 51.9 per cent, with two cities, Brisbane (40.1 per cent) and Perth (37.5 per cent), recording a rate of below 50 per cent.
Expecting its busiest week of July, Melbourne is set to host the most auctions this week, with 806 scheduled. Much like at a national scale, these levels are indicative of the third week running, where volume has risen after last week saw 710 homes auctioned across the Victorian capital.
A 2.2 per cent increase on last week means Sydney will host 689 auctions throughout the course of the week, with this figure also representing a 2.7 per cent jump on the volume levels seen during the same time last year.
Across the smaller capital cities, auction activity is predicted to rise by 10.7 per cent week-on-week. This is to be led by Brisbane; with 190 homes expected to go under the hammer, the Queensland capital is reporting a 6.7 per cent jump on the previous week’s levels.
Following Brisbane is Adelaide, with the South Australian expecting to see 171 auctions take place over the week, a 26.7 per cent rise on the week prior. Meanwhile, the nation’s capital, Canberra, is the only capital city where volumes are set to fall. A 4 per cent decline in activity levels means the area will see 95 homes go under the hammer across the week.
There are 17 homes scheduled to go under the hammer in Perth and one in Tasmania.
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