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On the final weekend before Easter festivities kick off across the country, the nation is expecting to host more auctions than any other week in the last 11 months.
Across the country, 2,876 homes are scheduled to go under the hammer, up 24.9 per cent on last week’s volume. Despite activity ballooning in the week ahead, it remains significantly lower than the week before Easter in 2022 (4,035), and is also the quietest week prior to Easter since 2019 (2,276).
Melbourne maintains its position as the nation’s busiest market, with 1,257 auctions scheduled to go under the hammer — more than any week since mid-June 2022 — as a result of a 10.6 per cent activity increase.
The Victorian capital registered a 4.2 per cent final clearance rate increase, taking the figure to 69 per cent. The city’s south-east registered the most successful auction results after 78.8 per cent of its 119 auctions returned a positive result, while Melbourne’s west, where 50 per cent of the 113 total auctions ended in a successful result, marking it as the city’s poorest-performing sub-region.
A 43 per cent activity increase is set to shoot Sydney’s activity above 1,000 for the first time in 2023 as the city braces for 1,130 auctions this week, marking the city’s busiest week in a year. Last time figures were this high was the week prior to Easter 2022.
At the conclusion of last week (ending 26 March), the harbour city reported a final clearance rate of 67.2 per cent (down 70 percentage points). The outer west and Blue Mountains was the NSW capital’s top-performing sub-region, having recorded a 90 per cent final clearance rate from 10 auctions. Conversely, the Central Coast, where 40 per cent of the 25 auctions ended successfully, was the city’s weakest-performing region.
Among the smaller capitals, Adelaide, Brisbane, and Canberra are expecting activity increases this week. In the Queensland capital, 177 auctions are scheduled, followed by Adelaide’s 174 and Canberra’s 119.
Slightly fewer homes are expected to go to auction in Perth this week (16), while three are scheduled in Tasmania.
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