CoreLogic has recorded 2,422 capital city homes to go under the hammer this weekend Australia-wide.
There are 2,422 capital city homes set to be auctioned this week which is up from the 2,274 auctions held last week.
Over the same week one year ago, volumes were much lower at 1,667.
Both Melbourne and Sydney are set to see an increase in the number of homes taken to auction week-on-week, with Melbourne set to host 1,215 auctions, up 1.2 per cent on last week (1,201).
Source: CoreLogic
In Sydney, 907 auctions are scheduled to take place; an expected rise of 18.3 per cent over the week (767).
Across the smaller auction markets, volumes are set to be higher over the week in Brisbane (109), Canberra (77) and Perth (36).
7 Banim Street, Aspley is one of the properties going under the hammer in Queensland through Apollo Auctions and Image Property agent Mario Rossi. Photo: Image Property
While Adelaide (69) and Tasmania (9) will see fewer homes auctioned this week.
Last week final auction results
Last week, the combined capital cities saw auction volumes rise with a total of 2,274 homes taken to auction, returning a final auction clearance rate of 65.3 per cent; a decrease on the 68.6 per cent clearance rate the week prior when a lower 1,494 auctions took place.
One year ago, 1,875 homes were taken to auction across the capital cities with a much lower 51.4 per cent selling.
Melbourne’s final clearance rate came in at 65.6 per cent across a higher volume of auctions week on week (1,201).
The week prior saw a very subdued 418 auctions take place when a slightly higher 66.1 per cent sold.
The same week last year saw 920 Melbourne homes auctioned, returning a final auction clearance rate of 52.1 per cent.
Sydney’s final auction clearance rate fell to 68.1 per cent across a lower 767 auctions last week, after the week prior saw 75.2 per cent of the 830 auctions successful.
Over the corresponding week a year ago, 638 Sydney auctions took place when a lower 54.2 per cent cleared.
Across the remaining auction markets, Tasmania was the best performing in terms of clearance rate with 85.7 per cent of the 12 auctions reporting a successful result,.
While this is a very low number of auctions, for Tasmania this is higher relative to what we usually see each week.
Similar to this:
Auction markets strong despite coronavirus concerns
Auction numbers bounce back from last week
Why property stands sturdy as Coronavirus smashes stock markets