Auction activity continues to trend down for the third consecutive week as selling conditions weaken across the country.
With 1,679 homes scheduled for auction across the combined capitals, this week’s auction activity is down -10.7% compared to the previous week (1,881) and down -20.2% from the 2,104 auctions held this time last year. An early view of the number of auctions scheduled in the coming weeks suggests that auction activity will remain low over the coming weeks.
Across Melbourne, auction activity this week is expected to reduce -6.3% compared to the week prior. With 613 homes set to go under the hammer, this week’s auction activity is down -43.0% compared to this time last year when 1,076 auctions were held.
Sydney is set for the busiest auction week amongst the capitals for the second consecutive week, with 666 auctions scheduled across the city. This week’s scheduled activity is down -11.9% from the 756 auctions held the previous week but up 2.5% compared to the 650 auctions that occurred this time last year.
While auction activity across the smaller capitals is expected to fall -15.1% week on week, this week's scheduled auction volumes are still up 5.8% compared to this time last year. Despite a week-on-week fall in auction activity, Adelaide (158) and Canberra’s (88) scheduled auctions are up 46.3% and 6.0% respectively compared to this time last year, while Brisbane’s scheduled auctions (147) are down -9.3% compared to this time last year. In Perth, five homes are set to go under the hammer this week, while two auctions are scheduled in Tasmania.
The complete Auction Market Preview for week ending 10 July 2022, including a summary of last week's results, can be downloaded below
Meet Kaytlin Ezzy
Economist
As an economist, Kaytlin is a key member within CoreLogic’s research team. Highly efficient and flexible, she specialises in collating large and customised data sets, data visualisation and residential data reports.
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