July auctions kick off with Randwick and Reservoir as busiest weekend auction suburbs: CoreLogic
This week, Randwick in Sydney is the busiest individual suburb for auctions, with CoreLogic tracking 17 auctions so far this week.
Following Randwick is Blacktown, also in Sydney, and Reservoir in Melbourne, each with 13 scheduled auctions.
This week, the number of auctions scheduled to take place across the combined capital cities will fall, with 1,820 auctions currently being tracked by CoreLogic, down from 2,355 last week.
Although volumes are down this week, current levels are significantly higher than the same week last year, when auction volumes were quieter due to the Federal Election when just 841 homes were taken to auction.
Across the two largest auction markets, Sydney and Melbourne, volumes are similar this week with both cities expecting just over 780 auctions each.
Melbourne has seen the largest fall in auction volumes week-on-week with current volumes -25 per cent lower than the previous week, while Sydney volumes are down around -17 per cent compared to last week.
Across the smaller markets, volumes will fall in all regions except Tasmania where volumes will remain unchanged.
Brisbane is set to host the most auctions this week with 105 auctions currently scheduled, followed by Adelaide with 72 auctions.
Both Canberra and Perth will host around 34 auctions each this week, half the number held over the previous week in Canberra.
A four bedroom house at 22 Cook Street, Randwick (above) will be auctioned on July 1st for between $1.65 million to $1.75 million.
Similarly a two bedroom apartment at 11/56 High Street, Randwick (below) will be auctioned on July 1st.
