Auction volumes are set to increase across the combined capital cities this week, rising above 2,000 for just the third time since late June.
There are currently 2,211 capital city homes scheduled for auction this week, up from 1,741 last week. Although this week’s auction numbers are up 27.0% week-on-week, they are -26.8% lower than the same week last year (3,019).
Melbourne is set to see the busiest auction week since the week ending 19th June (1,266) as the city gears up to celebrate the Melbourne Cup over the following week. There are currently 1,167 homes scheduled for auction this week, up 69.1% from last week (690), although -20.4% lower than this time last year when 1,467 auctions were held across the city.
There are 673 auctions scheduled in Sydney this week, up 1.4% from the 664 auctions held last week. While this week’s auction activity is similar to last week, it is -30.9% lower than the same week last year when 974 homes were taken to auction across the city.
Brisbane is the busiest auction market amongst the smaller capitals this week, with 146 auctions scheduled, down -7.0% from the previous week when 157 auctions were held. There are 133 homes scheduled for auction in Adelaide, up 9.9% from last week (121), while Canberra is set to see fewer homes taken to auction this week (81), down -8.0% week-on-week (88). There are 10 auctions scheduled in Perth this week, down from 20 the week prior, while in Tasmania, just one home is scheduled for auction.
The complete Auction Market Preview for the week ending 23 October 2022, including a summary of last week's results, 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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