With 1,519 capital city homes scheduled for auction, this week marks the quietest auction week since the week ending 12 June.
After trending upwards for three consecutive weeks, auction activity across the combined capitals is down 20.6% this week compared to the week prior (1,913) and down 5.4% compared to the same week last year (1,606). With 1,519 capital city homes scheduled for auction, this week marks the quietest auction week since the week ending 12 June, when six out of the eight states and territories were celebrating the Queen’s Birthday long weekend. Auction activity historically bottoms out around late July to early August, before trending upwards as we approach the spring selling season. An early view of auction numbers suggest that auction activity will increase in the coming weeks.
Across Melbourne, 626 homes are scheduled to go under the hammer this week, down 22.6% from the previous week (809) and -5.4% below the numbers recorded this time last year (662).
With 521 homes scheduled for auction, Sydney is set to host its quietest auction week since the Easter long weekend, when 480 homes were auctioned. The previous week saw 624 homes auctioned, while this time last year 564 homes went under the hammer.
Across each of the smaller capital cities, auction activity is down week on week, while Adelaide is the only capital expecting a rise in auction activity compared to this time last year (+54.9%). Brisbane is set to host the most auctions amongst the smaller capitals, with 154 homes scheduled for auction, followed by Adelaide (141) and Canberra (70). Perth is scheduled to host seven auctions this week, while there are no auctions set to occur in Tasmania.