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Auction activity bounces back after Easter slowdown

Auction activity bounces back after Easter slowdown

Auction action reignites this weekend across the country with expected volumes up in most capital cities, compared with fewer listings over Easter.

Melbourne, regularly the nation's largest capital auction market, will host 538 auctions this week according to CoreLogic RP Data, a big spike from last week's 78.

Yet Sydney will hold the crown of Australia's auction capital for the second week in a row with 595 slated auctions, up from 349 over the Easter week. 

Auction volumes will also be well up this week in Brisbane, Adelaide, Perth and Canberra.

As the only capital to hold more than 100 property auctions over Easter, Sydney saw a strong clearance rate of almost 78%, continuing an encouraging year so far for auction activity in the NSW capital. 

While the North Sydney and Hornsby area saw the highest clearance rate of all Sydney's sub-regions, with close to 87%, only around 69% of auctions cleared in the northern beaches, the city's weakest sub-region. 

The outer north-western Melbourne suburb of St Albans will be the busiest for auction activity, with 14 homes slated to go under the hammer. Epping and Glen Waverley will each host 13 auctions. 

Mosman will once again be Sydney's busiest suburb, hosting 13 auctions. The upmarket harbourside suburb has a median house price of more than $3m, according to CoreLogic RP Data. 

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice.