Auction activity is down this week, with the number of scheduled auctions falling across four of the capital city markets.
There are currently 1,942 homes scheduled for auction across the combined capital cities this week, down -17.9% from the previous week (2,364) and -10.4% lower than the number held this time last year (2,168).
In Melbourne, 647 homes are set to go under the hammer this week, down -35.3% from the 1,000 auctions held over the previous week. This week’s scheduled auctions are down -39.7% compared to this time last year when 1,073 auctions were held across the city.
Meanwhile, with 825 homes scheduled for auction across the city, Sydney is set to overtake Melbourne this week as the busiest auction market for just the sixth time so far this year. The previous week saw 890 auctions held across Sydney, while this time last year, 756 homes went under the hammer.
Across the smaller capital cities, Adelaide (197) and Perth (19) are the only cities set to see an increase in auction volumes week-on-week, up from the 171 and 18 auctions held respectively last week. In Brisbane, 152 auctions are scheduled this week, down from 161 over the previous week, while Canberra is expecting to see 100 auctions (down -18.0%). There are two auctions scheduled in Tasmania this week, in line with the previous week.