Auction Activity Heats Up Across Australian Capitals

CoreLogic's latest data reveals a surge in auction volumes across the combined capital cities. As we approach the peak of the auction season, more properties are being listed for sale and hitting the auction block.

Key Highlights:

• Rising Auction Volumes: A total of 2,621 capital city homes are scheduled to go under the hammer this week, making it one of the busiest auction weeks of the year.
• Melbourne and Sydney Lead the Way: Melbourne is poised to host over 1,000 auctions for the second consecutive week, while Sydney is set to see its third busiest auction week of the year.
• Smaller Capitals Also Active: Brisbane, Adelaide, and Canberra are experiencing increased auction activity, with more properties being listed for sale.
• Positive Outlook for Future Weeks: The trend of rising auction volumes is expected to continue, with even higher numbers anticipated in the coming weeks.

Last Week's Recap:

• 1,955 Auctions Held: Despite a slight decrease from the previous week, auction volumes remained relatively high.
• Clearance Rate Dips: The combined capital city clearance rate slipped below 60% for the first time this year, coming in at 59.5%.
• Melbourne and Sydney See Mixed Results: Melbourne's auction volumes rebounded after a post-AFL Grand Final slowdown, while Sydney's clearance rate fell below 60%.

Overall, the Australian auction market is showing signs of strength as we head into the spring selling season. With more properties being listed and buyers becoming more active, it's likely that we'll see even busier auction weeks in the near future.