The combined capitals are expecting the busiest auction week since late June, with 2,283 homes scheduled for auction this week.
After hovering around 1,900 over the past two weeks, scheduled capital city auction numbers are up 19.1% this week. With 2,283 homes scheduled for auction, the combined capitals are set for the busiest auction week since late June, when 2,364 capital city homes were auctioned. Last week saw 1,917 homes auctioned across the capitals, while this time last year, when selling conditions were much stronger, 3,539 auctions were held.
Melbourne is set to host the busiest auction week amongst the capitals, with 953 homes set to go under the hammer this week. Up 19.6% from the 797 auctions held last week, this week’s auction activity is -39.1% below this time last year (1,564), when the end of Melbourne lockdowns saw auction volumes surge.
With 871 homes scheduled for auction, this week is set to be Sydney's busiest week since late June (890) and marks the seventh time Sydney’s auction activity is scheduled to exceed 800 since Easter. This week’s auction volumes are 23.7% above the number recorded last week (704) but are -30.8% below the number of auctions held this time last year (1,259).
Across the smaller capitals, Brisbane is set to overtake Adelaide as the busiest auction market this week, with 174 homes scheduled for auction (up 33.8% week on week). With 154 homes across Adelaide and 108 homes across Canberra scheduled for auction, this week’s auction activity is down -1.9% and -3.6% respectively compared to last week. In Perth, 18 homes are set to go under the hammer, while five auctions are expected in Tasmania this week.
The complete Auction Market Preview for the week ending 13 November 2022, including a summary of last week's results, can be downloaded below.
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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