Auction activity is on the rise with 1,872 homes scheduled for auction across the combined capital cities this week, up 15.7% from last week when the Labour Day long weekend in ACT, NSW and SA, and the Queen’s Birthday long weekend in Qld saw fewer homes taken to auction (1,618).
While up week-on-week, this week’s auction volumes are down -30.9% compared to this time last year when 2,708 auctions were held across the combined capital cities.
Across Melbourne, expected auction activity is set to fall -12.2% this week, with 731 homes currently scheduled for auction, down from 833 last week. This week’s scheduled auction activity is -45.9% lower than the same week last year when 1,351 auctions were held across Melbourne.
There are 752 homes set to go under the hammer across Sydney this week, rising 55.4% from last week when a combination of the Labour Day long weekend and the NRL Grand Final saw just 484 auctions held across the city. This time last year, 825 homes were auctioned across Sydney.
Adelaide is set to see 143 homes taken to auction this week, making it the busiest auction market amongst the smaller capitals, followed by Brisbane (120) and Canberra (117). Perth will see just nine homes taken to auction, while there are no auctions scheduled in Tasmania this week.