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CoreLogic forecasting third-busiest auction week since 2008

Following a solid week of activity last week, CoreLogic is forecasting this week to be the third-busiest week for auction volumes across the combined capital cities since it began collecting auction data in 2008. 

There are 3380 properties scheduled to go under the hammer across the combined capital cities this week, which represents a 43 per cent increase on last week’s volumes. 

With a reduction in auction activity expected next week due to Easter, the increase in volumes is to be expected, but the number of auctions scheduled for this weekend is the highest since the same week in 2018, when 3990 went under the hammer.

Almost half of the scheduled auctions are due to take place in Melbourne, with 1906 planned across the city – up from 1322 last week and 1565 in the same week in 2020. 

Thirty-eight per cent of auctions are due to take place in Sydney, with 1468 scheduled this week, up from 1025 week the week prior and 1279 in the corresponding week in 2020.

The smaller capital cities are also expecting higher volumes at this week’s auctions, with Adelaide scheduled to hold 162 – an 82 per cent increase on the week prior.The final clearance rate for last week’s auctions was 80.9 per cent – up 0.9 per cent on the week before.

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