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Auction activity is set to ease across the combined capitals this week ahead of the festive season.

Australia’s auction markets are off to a slightly slower start this year, with 708 capital city homes scheduled for auction this week.

With 3,084 homes scheduled for auction, the combined capitals are set to host their second busiest auction week of the year-to-date.

With 1,519 capital city homes scheduled for auction, this week marks the quietest auction week since the week ending 12 June.

Following an easing in auction activity last week (2,023), CoreLogic is expecting weekly auction numbers to rise 39.2% this week.

Capital city auction activity is set to exceed the 3,000 mark for just the second time this year, with 3,133 homes currently scheduled to go

Each month CoreLogic Australia’s research team compile a comprehensive summary of the need-to-know market metrics.

We all know that a property search can be a daunting and lengthy process. Your customers will likely be evaluating a great number of options in the search for their next property based on an array of motivations specific to their requirements.

The preliminary auction clearance rate edged higher last week, rising to 67.4% from 66.6% the week prior (revised lower to 60.8% on final numbers).

The first week of May saw a bounce back in both the volume of auctions and the preliminary clearance rate.  1,643 homes went under the hammer across the combined capitals last week, 567 more auctions relative to the week prior.