There will be fewer properties going under the hammer across Australia’s combined capitals this week largely due to a fall in Melbourne’s scheduled auction activity.
Despite a -23.4% fall in expected auction volumes, Melbourne is expected to maintain its place as the busiest auction market this week, with 970 homes scheduled to go under the hammer. Weekly activity is down -31.6% from the 1,418 auctions held this time last year, when Melbourne’s auction market surged after the city’s fourth lockdown restrictions were lifted.
Sydney is expecting its busiest week of June, with 948 homes set for auction across the city. Up 19.2% from the 795 auctions held the week prior, this week’s auction activity is -12.5% below last year’s volumes (1,084).
Across the smaller capitals, auction activity is expected to rise 2.4% from the week prior and 4.4% on volumes seen this time last year. Adelaide (173) is expected to maintain its position as the busiest amongst the smaller capitals despite recording a fall in volumes week on week (-3.4%), followed by Brisbane (165). Canberra has 119 auctions scheduled, a 16.7% increase week-on-week and up 9.2% from the 109 auctions held this time last year. Across Perth, 19 auctions are scheduled, while Tasmania has two properties set for auction this week.