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The coming week is set to improve on last week’s meteoric rise, as national auction activity is set to climb nearly 100 per cent.
Australia-wide, 1,352 homes are expected to go under the hammer, a 90.4 per cent increase on last week’s activity, which itself was a 180 per cent improvement on the previous week. This week’s activity is almost double the previous week’s 710 auctions, while 24 per cent lower than the same period last year when a record-breaking 1,779 auctions were held.
With 451 auctions scheduled over the coming week, Sydney is expecting more than double last week’s 202 auctions, and this week represents 33.4 per cent of total national activity.
Looking back at last week’s results, Blacktown was the city’s strongest performing sub-region, with 70.6 per cent of 51 auctions returning positive results, while the city’s South-West’s preliminary clearance rate of 54.6 per cent from 12 auctions firmed it as Sydney’s weakest performer.
Slightly trailing Sydney, Melbourne’s 426 auctions pencilled in for the coming week sees the Victorian capital take on 31.5 per cent of Australia’s total auctions. This represents an improvement on last week’s 267, while 582 homes went under the hammer this time last year.
Last week, Melbourne’s Outer East was its best-performing sub-region as it returned a preliminary clearance rate of 71.4 per cent from 49 auctions, while the city’s Inner-South, where just 35.7 per cent of 14 auctions were successful, was Melbourne’s worst-performing region.
Across the smaller capitals, Brisbane will host the lion’s share of the combined 475 auctions with an 84.5 per cent week-on-week increase. That catapults the Queensland capital to 179 auctions for the week ahead.
Meanwhile, activity in Canberra is expected to triple its previous week’s efforts, with 144 auctions scheduled to go under the hammer in the week ahead, while Adelaide is expecting 139 — a 33.7 per cent activity increase. In Perth, 12 homes are scheduled for auction, while just one is expected throughout Tasmania.
