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Joshua

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Capital cities are set to see a double-digit rise in auction volumes over the week

2Mo ago 0 Replies 52 Views
There are 2,430 auctions scheduled across capital cities in the week ending 18 July, up 15 per cent on last week’s final figures at 2,104 and more than double the volumes recorded last year at 1,176, according to the newest figures from CoreLogic.

Weighing in on the current market, Ray White chief economist Nerida Conisbee said the strong winter selling season is definitely set to continue, with low interest rates, freer lending and high household savings rates as “obvious drivers”.

Melbourne is expected to account for almost half of all auction activity, with 1,198 homes scheduled to go under the hammer – higher than last week’s 1,076 and last year’s 500.

However, final figures are expected to change as the Victorian capital enters into a five-day snap lockdown on Friday.

Sydney’s auction volumes are also set to rise this week despite the current lockdown, with 859 auctions supposed to be going ahead – up from last week’s 650 and last year’s 515 – although this may change following the extension of the lockdown for another two weeks.

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