Auction activity across the combined capitals continues to rise, with 2,579 homes set to go under the hammer this week.
Continuing the upward trend seen over the past four weeks, this week's auction volumes are expected to rise 6.8%, overtaking last week (2,414) as the capital's busiest week since mid-June (2,528). While up week on week, this week's scheduled auction activity is -37.9% lower than the same week last year (4,153), when weekly auction volumes exceeded 4,000 for the second time on record.
With 937 homes currently scheduled for auction, Sydney's auction activity rose marginally this week (0.9%), making it the busiest week since late May (1,109). The previous week saw 929 homes auctioned across the city, while this time last year, 1,466 auctions were held.
Melbourne is expected to host more than 1,000 auctions for the third consecutive week, with 1,151 homes set to go under the hammer. Up 13.8% from the 1,011 auctions held last week, this week's auction activity is -39.8% below this time last year (1,912), when Melbourne hosted its sixth busiest auction week on record.
Adelaide (180) is set to overtake Brisbane as the busiest auction market amongst the smaller capitals, up 20.8% from the previous week when 149 auctions were held. With 169 auctions scheduled, Brisbane's auction activity is set to rise 9.7% this week, up from 154, while Canberra is expected to host 125 auctions this week, 17.8% below the 152 held last week. In Perth, 14 homes are set to go under the hammer, while three auctions are expected in Tasmania this week.
The complete Auction Market Preview for the week ending 4 December 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.
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