Capital city auction activity is set to rise slightly (1.6%) this week, with 1,751 homes expected to go under the hammer across the combined capitals.
The previous week saw 1,724 homes auctioned, while this week last year, 2,879 homes went under the hammer across the combined capitals.
Melbourne is set to host the busiest auction market this week, with 728 homes scheduled for auction across the city. This week's expected auction activity is 1.3% higher than the 719 auctions held last week but is -43.6% below the 1,291 auctions held over the same week last year.
There are 654 homes scheduled to go under the hammer in Sydney this week, up 2.3% from the 639 auctions held last week but -30.9% below the 946 held this week last year.
Auction activity across the smaller capitals cities is expected to hold fairly steady this week, up just 0.8% week on week. Brisbane is expecting the busiest week among the smaller capitals, with 134 homes scheduled for auction this week, up three from the 131 held last week. This is followed by Adelaide (123) and Canberra (98), down two and up two auctions respectively compared to the previous week. In Perth, 12 homes are scheduled for auction this week, while two are currently set to go under the hammer in Tasmania.
In defiance of the seasonal slowdown usually seen this time of year, capital city auction activity is expected to rise over the coming weeks, with around 1,950 homes currently scheduled for auction next and roughly 1,900 auctions set to occur the week after.
The complete Auction Market Preview for the week ending 14 May 2023 can be downloaded below
Auction Market Preview
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A dynamic leader and subject matter expert in the banking, financial services, and real estate industries Duane Kaak, brings more than 20 years’ experience to his role as Leader of Corelogic's Data Acquisition and Research team. Duane has been instrumental in managing and leading teams of researchers across Australia in Corelogic's Commercial, Real Estate and Construction segments for the past four years.
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