The country’s real estate market will witness fewer auctions this weekend, following a Super Saturday event that saw more than 2400 homes go under the hammer.
According to Domain’s latest data, there are 2190 auctions pencilled in for this Saturday, which represents a week-on-week dip of 17.9 per cent.
Despite this drop, though, both Canberra and Adelaide will witness the most amount of auctions on record for this particular Saturday.
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The nation’s capital will see a total of 92 sales events taking place, while the City of Churches will host 137 auctions.
Like almost every other weekend this year, Melbourne’s property market will see more homes at the mercy of the auctioneer’s gavel than any other capital in the land.
Australia’s second-largest metropolis will see 1094 auctions taking place across the city, down 16.3 per cent from last Saturday.
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Sydney follows Melbourne with the second-busiest auction calendar, with the Emerald City set to host 783 sales events (down 19.8 per cent week-on-week).
While auction volumes may have softened this weekend, last Saturday’s clearance rate figures paint a far more positive picture.
Domain data shows that every capital city in the land, with the exception of Canberra, recorded an increase in the clearance rate.
As a result, the combined national sale rate rose by 6.1 per cent to sit at 65.9 per cent.
Adelaide, which has had the strongest clearance rates of any major metro area this year, bounced back massively last weekend following a cool Saturday before it, recording a sale rate of 84.2 per cent (up 20.1 per cent).
The clearance rate of both Melbourne and Sydney also bounced last Saturday, with the country’s two biggest cities recording a sale figure of 65.9 and 64.1 per cent, respectively.
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