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Auction numbers set to rebound this week: RP Data

The number of auctions held in Australian capital cities will climb to 1,799 in the week to March 17, bouncing back from only 995 held the previous week, which was heavily affected by public holidays.

Figures from RP Data show Melbourne is set for 914 auctions in the week to March 17. In the week to March 10, Melbourne had just 227 auctions, with a clearance rate of 62.9%. This was the first week that Melbourne had underperformed when compared to the national average clearance rate.

In Sydney, the auction clearance rate was recorded at a strong 71.4% in the week to March 10, up from 61.1% the previous week. Auction volumes fell from 751 the previous week to 532.

In the week to March 17, Sydney is set for 632 auctions.

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