Powered by MOMENTUM MEDIA
subscribe to our newsletter

Auction volumes: Adelaide up, Melbourne down

Auction volumes are currently tracking around 8 per cent lower across capital cities than at this time last year.

Latest figures from CoreLogic RP Data indicate the trend is most pronounced in Melbourne, which has had 27 per cent fewer auctions. 

In contrast, volumes are 25 per cent higher in Adelaide and stable in Sydney.

As the entire number of auctions so far this year is similar to a large week in spring, this trend may still be easily reversed, said CoreLogic RP Data auction market specialist Robert Larocca.

“Across Australia, there are 1,713 auctions expected this week with 1,289 expected in capital cities,” Mr Larocca said.

Advertisement
Advertisement

“This is compared to 987 last week and 1,667 for the same week last year."

In Sydney, 509 auctions are expected, compared with 255 last week and 614 this week last year.

In Melbourne, 506 auctions are expected, compared with 255 last week, and 783 this week last year.

Mr Larocca noted that many prospective vendors appear to be holding back, which is contributing to a lower clearance rate.

Last week was the lowest recorded for 26 months.

PROMOTED CONTENT


“There are 103 auctions expected in Brisbane compared to 109 last week and 133 this week last year,” Mr Larocca said.

“In Adelaide, the auction market has had a very healthy start to the year so far. This week there are 88 auctions expected compared to 94 last week and 58 on the same week last year,” he said.

In Canberra, 51 auctions are expected, compared with 69 last week and 41 this week last year, while in Perth 23 auctions are expected, compared with 31 last week and 26 this week last year.

Auction volumes: Adelaide up, Melbourne down
mortgagebusiness

Latest News

The chief of Australia’s largest bank has said lenders should act pre-emptively and shift their floor rates for mortgage serviceability am...

Total household wealth reached a high of $13.4 trillion in the June quarter, primarily due to rising property prices, according to the Aust...

The property exchange settlement platform has been granted approval to establish an Electronic Lodgement Network in the ACT.  ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.