Auction activity across the combined capitals is set to trend higher for the fifth consecutive week, with 2,357 capital city homes currently scheduled for auction.
This week's auction activity is once again set to overtake the week prior as the combined capital's busiest since early April and third busiest of the year-to-date. Last week saw 2,286 homes go under the hammer, while this time last year, 1,918 homes were auctioned.
Melbourne is set to host more than 1,000 auctions for the third consecutive week, with 1,035 homes currently scheduled to go under the hammer this week. This week's auction activity is 2.6% higher than the 1,009 homes auctioned last week and 22.2% above the 847 seen this week last year.
With 958 homes currently scheduled for auction, up from 913 last week and 698 this time last year, Sydney's auction activity is set to rise for the fifth consecutive week. The 4.9% week-on-week rise is set to see this week overtake last week as Sydney's busiest since before Easter (1,017) and the second busiest of the year-to-date.
Auction activity across the smaller capitals are set to hold steady, with declines across Brisbane (-14.7%) and Canberra (-5.3%), offsetting the rises in Adelaide (+25.2%) and Perth (+50.0%). Brisbane (133) is expecting the busiest auction market among the smaller capitals this week, followed by Adelaide (129) and Canberra (90). Perth is set to host 12 auctions this week, while no auctions are currently scheduled to occur in Tasmania.
Capital city auction activity is set to continue trending higher over the coming weeks, with approximately 2,450 auctions currently scheduled for next week.
The complete Auction Market Preview for the week ending 10 September 2023 can be downloaded below