After recording the busiest auction week of the year-to-date last week, capital city auction activity is set to ease, with 2,105 homes currently scheduled for auction.
Led by a decline across Melbourne, this week's expected auction numbers are -37.7% below the 3,381 auctions seen last week and -11.0% below the average weekly volumes (2,365) seen through spring so far. This week last year, weaker selling conditions saw just 1,917 homes auctioned.
Sydney is set to host the busiest auction market this week, with 1,161 homes scheduled for auction. Up 8.4% week-on-week, this week is set to overtake last week (1,071) as Sydney's busiest auction week since mid-April 2022 (1,490). This time last year, the city saw 704 homes go under the hammer.
In anticipation of next week's Melbourne Cup carnival, auction activity across Melbourne is set to plummet this week, with 457 homes expected to go under the hammer. Last week (1,725) saw Melbourne host its busiest auction week since the week before Easter 2022 (1,795), while 797 auctions were held across the city this week last year.
Adelaide is expecting its busiest auction week of the year-to-date, with 179 homes scheduled for auction, up 5.9% from the week prior (169). Auction activity across Brisbane is set to decline -40.2% week-on-week, with 140 homes set to go under the hammer, while Canberra's auction volume is expected to fall -12.1% to 145 this week. Across Perth, there are currently 19 homes scheduled for auction, while four auctions are set to be held in Tasmania this week.
The complete Auction Market Preview for the week ending 5 November 2023 can be downloaded below