Spring auction numbers continue to ramp up
The start of the spring selling season has seen auction activity ramping up, with this week set to overtake last week as the capitals' busiest since late March. With 2,786 homes currently scheduled for auction, this week's auction activity is up 13.4% compared to the previous week and 5.2% higher than the 2,648 auctions seen this time last year.
Melbourne is set to host its busiest auction week since the week before easter, with 1,300 homes set to go under the hammer. This is up 11.7% compared to the previous week and is 19.0% above this time last year when 1,092 homes were auctioned.
Sydney is expecting the second busiest auction week of the year-to-date, behind only the week ending 24th March (1,199), with 1,061 auctions across the city. Up 21.7% compared to last week (872), this week's expected auction activity is 4.3% higher than this time last year when 1,017 auctions were held.
Across the smaller capital cities, Adelaide is set to host its busiest week of the year so far, with 207 homes scheduled to go under the hammer, up 33.5% compared to last week. Brisbane is expecting a -25.0% decline in weekly auction activity, with 132 auctions scheduled, while there are 70 homes set for auction in Canberra, down from 70 last week. In Perth, 16 homes are currently scheduled for auction, up from 15 last week, while no auctions are scheduled in Tasmania.
With Melbourne celebrating the AFL grand final, auction numbers are set to fall around 45% next week and remain compressed the following week thanks to the Labour Day/Kings' birthday long weekends in NSW, ACT, QLD and SA.
The complete Auction Market Preview for the week ending 22 September 2024 can be downloaded below.
Auction Market Preview
Meet Kaytlin Ezzy
Economist
As an economist, Kaytlin is a key member within CoreLogic’s research team. Highly efficient and flexible, she specialises in collating large and customised data sets, data visualisation and residential data reports.
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