Auction activity in Melbourne is gearing up for a strong week, with over 1,000 homes scheduled for auction. This follows a significant drop during the AFL Grand Final. Meanwhile, Sydney's auction market is expected to see a slowdown due to the upcoming Labor Day long weekend.
Key Points:
- Capital City Auctions: Just over 2,000 capital city homes are scheduled for auction this week, up from last week's numbers.
- Melbourne Revival: Auction volumes in Melbourne have surged after the AFL Grand Final, with 1,089 homes set for auction.
- Sydney Slowdown: Sydney's auction activity will decrease due to the Labor Day long weekend, with only 588 homes scheduled.
- Smaller Capitals: Other capital cities like Brisbane, Adelaide, Canberra, Perth, and Tasmania will see relatively stable auction volumes.
Last Week's Recap:
- Total Auctions: 1,836 homes were auctioned across the combined capitals last week.
- Clearance Rate: The combined capital city clearance rate fell to 60.6%.
- Melbourne: Only 236 auctions were held in Melbourne due to the AFL Grand Final.
- Sydney: Sydney saw 1,199 homes auctioned, with a clearance rate of 60.9%.
Looking Ahead:
Next week, auction volumes are expected to rise again, with around 2,650 capital city homes scheduled for auction.
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