Auction activity across the combined capitals is expected to trend upwards for the second week in a row with 1,853 capital city homes set to go under the hammer this week.
Compared to the previous week, when 1,689 homes were auctioned, this week’s number of scheduled auctions is up 9.7%, and up 7.2% compared to this time last year (1,728). Each of the capitals are expecting higher auction activity compared to the previous week and only Melbourne, Perth and Tasmania are set to host less auctions compared to this time last year.
Across Melbourne, auction activity is up 4.3% week on week, trending higher for the second consecutive week. With 704 auctions scheduled across the city, this week’s auction volumes are up from the 675 auctions held last week. Compared to the same time last year (772), auction activity is down 8.8%.
After falling short the previous two weeks, Sydney is again expected to host the most auctions this week, with 721 homes set to go under the hammer. This week’s auction activity is up 13.0% compared to the previous week when 638 homes were auctioned and up 23.2% from the 585 auctions held this time last year.
This week’s auction activity is up 13.8% across the smaller capital cities week on week, and 14.4% above the number of auctions observed this time last year. Brisbane (180) is set for the busiest week amongst the smaller capitals for the second consecutive week, up 15.4% compared to the week prior, followed by Adelaide (136) and Canberra (98) up 9.7% and 12.6% respectively. There are 14 auctions scheduled in Perth, while Tasmania is again not expecting to host any auctions this week.