Auction activity is set to increase across six of the seven capital city markets this week, with 1,969 capital city homes set to go under the hammer.
Trending upwards for the third consecutive week, auction volumes are up 8.7% compared to last week (1,812) and 11.8% above the number of auctions held this time last year (1,761). While this week’s volumes are below the weekly average recorded over the June quarter (2,418), this week’s auction activity is up 10.4% compared to the weekly average recorded over last year’s September quarter (1,783).
Melbourne is set to host the most auctions this week, with 806 homes scheduled to go under the hammer. Melbourne is expecting its busiest week of July with auction volumes trending upwards for the third consecutive week. Last week saw 710 homes auctioned across the city while 656 auctions were held this time last year.
Sydney is expecting 689 homes to go under the hammer this week, up 2.2% from the 674 auctions held the week prior. Compared to this time last year when 671 homes were auctioned, this week’s scheduled auction activity is up 2.7%.
Across the smaller capitals, auction activity is up 10.7% week on week and 9.2% compared to the same week last year. With 190 homes scheduled for auction, up 6.7% from the week prior, Brisbane is expecting the busiest week amongst the smaller capitals, followed by Adelaide (171) up 26.7%. Canberra is the only capital expecting auction volumes to fall this week (-4.0%) with 95 homes set to go under the hammer. There are currently 17 homes scheduled for auction across Perth, while Tasmania is set to host one auction this week.
The complete Auction Market Preview for week ending 31 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.
Full profile