Auction volumes are set to take a dive due to the Easter long weekend, with fewer than 700 capital city homes currently scheduled to go under the hammer (697).
This is -74.1% lower than the previous week (2,687) and -82.7% lower than the same week last year (4,035). This week is the quietest Easter period for auctions since 2020 (634), with the Easter period in 2021 (845) and 2022 (926) both recording higher auction volumes. After Easter, auction activity generally trends lower into the cooler months before ramping up into spring.
Sydney is set to be the busiest auction market this week. There are 407 homes currently scheduled to go under the hammer across the city, down -60.0% on last week (1,017) and -72.7% lower than this time last year (1,490). Easter 2022 saw 480 homes taken to auction across Sydney.
There are just 114 homes scheduled to go under the hammer in Melbourne this week, down -90.5% from last week (1,202) and -93.6% lower than this time last year (1,795). In comparison, Easter 2022 saw 196 homes taken to auction across the city.
Across the smaller capital cities, Brisbane is set to host 77 auctions this week, down -55.2% from last week when 172 auctions were held. There are currently 49 auctions scheduled in Adelaide, down -69.2% from last week (159) and 45 in Canberra, down -61.5% week-on-week (117). There are just five auctions scheduled in Perth, down from 17 last week, while there are no auctions scheduled in Tasmania.
The complete Auction Market Preview for the week ending 9 April 2023 can be downloaded below.
Meet Caitlin Fono
Sr Associate, Research Support
Caitlin has spent more than a decade working with property data and analytics in various roles, earning a position on the CoreLogic research team in 2013. As a respected and highly experienced research analyst, Caitlin works with high frequency data sets, regularly updating our widely read auction reporting, weekly activity updates and customised data briefs.
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