Capital city auction activity is set to remain steady this week, with 1,875 homes expected to go under the hammer across the combined capitals.
This represents just eight less auctions than last week (1,887), while in the same week last year, 2,644 homes went under the hammer across the combined capitals.
Sydney is set to host the most auctions this week, with 789 homes scheduled for auction across the city. This is 13.0% higher than the 698 auctions held last week, and is -13.5% below the 912 auctions held over the same week last year.
There are 757 homes scheduled to go under the hammer in Melbourne this week, down -10.3% from the 844 auctions held last week and -39.2% below the 1,245 held in the same week last year.
Auction activity across the smaller capital cities is also relatively steady this week with 321 auctions scheduled, down seven auctions from the number held last week. Brisbane is narrowly expecting the busiest week among the smaller capitals, with 119 homes scheduled for auction, down -13.1% from last week (137). This is closely followed by Adelaide with 118 homes scheduled for auction, up one auction on last week (117). Canberra auction numbers will rise this week (84), up 13.5% compared to the previous week (74). In Perth, eight homes are scheduled for auction, nine less than last week, while no homes are scheduled for auction this week in Tasmania.
Capital city auction activity is expected to reduce significantly next week due to the public holiday long weekend, with around 1,080 homes currently scheduled for auction.
The complete Auction Market Preview for the week ending 4 June 2023 can be downloaded below
Auction Market Preview
Meet Duane Kaak
Leader, Data Acquisition and Research
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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