Melbourne Auctions Bounce Back, Sydney Sees Labor Day Slowdown

Auction activity in Melbourne is gearing up for a strong week, with over 1,000 homes scheduled for auction. This follows a significant drop during the AFL Grand Final. Meanwhile, Sydney's auction market is expected to see a slowdown due to the upcoming Labor Day long weekend.

Key Points:

• Capital City Auctions: Just over 2,000 capital city homes are scheduled for auction this week, up from last week's numbers.
• Melbourne Revival: Auction volumes in Melbourne have surged after the AFL Grand Final, with 1,089 homes set for auction.
• Sydney Slowdown: Sydney's auction activity will decrease due to the Labor Day long weekend, with only 588 homes scheduled.
• Smaller Capitals: Other capital cities like Brisbane, Adelaide, Canberra, Perth, and Tasmania will see relatively stable auction volumes.

Last Week's Recap:

• Total Auctions: 1,836 homes were auctioned across the combined capitals last week.
• Clearance Rate: The combined capital city clearance rate fell to 60.6%.
• Melbourne: Only 236 auctions were held in Melbourne due to the AFL Grand Final.
• Sydney: Sydney saw 1,199 homes auctioned, with a clearance rate of 60.9%.

Looking Ahead:

Next week, auction volumes are expected to rise again, with around 2,650 capital city homes scheduled for auction.