Australia’s auction market is set to pick up pace again following the Australia Day long weekend and the start of the school year in some states.

Only a small number of auctions are generally held in the weeks between Christmas and the end of January, with the market tending to ramp up the weekend after the Australia Day long weekend. Of the auctions held last weekend, CoreLogic analysed 400 results, and Domain analysed 499. Both have Adelaide and Melbourne as the top two markets for auction clearances across the weekend.

CoreLogic has Adelaide on top at 76.1,% while Domain places it in second spot with a clearance rate of 61%. CoreLogic says Melbourne’s clearance rate was 61% while Domain has its clearance rate at 63%. The number of properties scheduled to go under the hammer is expected to rise over the coming weeks, with CoreLogic tracking about 1300 auctions currently scheduled for next weekend.