The nation’s auction market continued rebounded last weekend despite high volumes.
With a whopping 3,148 homes taken to auction, the final clearance rate came in at 70.1%, up from 66.9% the prior weekend:
The national clearance rate continues to trend lower after rebounding earlier in the year:
This week, auction clearance rates are set to surge to their highest volume this year, with 4,086 capital city homes scheduled for auction:
According to CoreLogic:
With 4,086 capital city homes set to go under the hammer, this week is set to be the busiest auction week of the year to date, and the fifth busiest since CoreLogic records commenced in 2008. Up 27.3% from the week prior, when 3,209 homes were auctioned, this week marks the fifth time expected city capital city auction volumes have exceeded 4,000…
Melbourne is scheduled to host 1,768 auctions this week, up 17.8% from the 1,501 auctions held last week. This week is expected to overtake the week ending 27 March (1,626) as Melbourne’s busiest week of the year to date…
Across Sydney, 1,554 homes are scheduled for auction this week, up 36.8% from the 1,136 that occurred last week. This week is predicted to overtake the week ending 27 February (1,202) as Sydney’s busiest auction week of the year, and it’s fourth busiest week on record…
Across the smaller capitals, scheduled auction activity is up 33.6% this week, with both Canberra and Adelaide expecting the busiest week of the year to date…
It will be interesting to see whether the deluge of auctions drives clearances lower.
