Auction activity is expected to be somewhat sedate this week, with a total of 1,130 homes scheduled for auction across the combined capital cities, down almost 50 per cent on last week’s final results which saw a total of 2,201 auctions held.
The lower activity this week is a likely result of half of the auction markets welcoming a long weekend, with Melbourne, Canberra, Adelaide and Tasmania all host to a public holiday this coming Monday.
The most notable decrease in activity is expected to be across Melbourne, with only 199 homes scheduled for auction this week, down by 80.8 per cent on last week when 1,039 auctions were held.
The number of auctions scheduled across Sydney will also see a fall to a lesser degree, with 669 scheduled auctions this week, decreasing from the 801 auctions held last week.
Perth is expected to be the only capital city auction market to see a rise in volumes week-on-week.
Last week, the combined capital cities returned a 50.4 per cent final auction clearance rate across 2,201 auctions. week (2,293).  One year ago, both auction volumes and clearance rates were significantly higher. There were over 3,000 properties taken to auction over the same week last year with 63.6 per cent of those having sold.
As well see the full wrap from last weekend and Geoff White’s thoughts about the weekend ahead.