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After consecutive weeks floating at the 1,900 mark, volume levels are set to climb nearly 20 per cent in the coming week, according to CoreLogic.
Across the country, 2,283 homes are scheduled to go under the hammer over the week ending 13 November — 19.1 per cent more than the week prior — marking the busiest week of activity since late June when 2,364 auctions were held.
Melbourne’s anticipated to hold steady as the busiest capital city as a 19.6 per cent volume increase should see 953 auctions take place throughout the city. The Victorian capital is hoping activity increases result in improved clearance rates after it recorded its lowest clearance rate in nine weeks last time out (58.4 per cent).
The city’s inner east was its strongest performing subregion over the past week, raking in a 70.5 per cent final clearance rate from 105 auctions, whereas Melbourne’s west saw 47.9 per cent of its 188 auctions return a successful result.
Up in NSW, Sydney is expecting its busiest auction week since late June as 871 homes are scheduled to go under the hammer, up 23.7 per cent on the week prior’s 704.
Last week, the harbour city registered its highest clearance rate since early April, as 63.7 per cent of all auctions returned a positive result. Moreover, the city recorded its lowest withdrawal rate (13.2 per cent) since mid-March.
Ryde was the most fruitful Sydney subregion, concluding the week with a 73.7 per cent final clearance rate from 38 auctions. Conversely, the Central Coast was the poorest performer, as just 31.8 per cent of 22 total auctions returned a positive result.
Brisbane looks set to bypass Adelaide as the busiest of the smaller capitals, driven by a 33.8 per cent activity increase leading to 174 auctions scheduled for the week ahead. In Adelaide, 154 homes are set to go under the hammer, down 1.9 per cent on the week prior, while a 3.6 per cent volume drop sees 108 scheduled in the national capital, Canberra.
Perth is expecting 18 auctions this week, while five auctions are scheduled for Tasmania.
