Capital city auction activity is set to fall this week, with just shy of 2,000 capital city homes scheduled for auction.
There are 1,989 homes set to go under the hammer this week, down -8.3% from the 2,169 auctions held last week. This decrease is attributable to a slowdown in auction activity across Melbourne, with the Melbourne Cup carnival kicking off this weekend. The other capital cities are anticipating a week-on-week rise in auction volumes. This week's scheduled auction activity is -43.9% below this time last year, when stronger selling conditions and a thriving spring selling season saw 3,546 homes go under the hammer.
Sydney is set to host the busiest auction market this week, with 818 homes scheduled to go to auction. Compared to the previous week, when 632 auctions were held, this week's auction activity is up 29.4%, but is down -28.9% compared to this time last year (1,151).
Melbourne is the only capital expecting auction activity to fall this week, down -48.3% week-on-week. With 601 auctions scheduled across the city, this week's auction volume is roughly half the number of auctions held last week (1,163) and just over a third of the auction numbers seen this time last year (1,752).
Across the smaller capitals, Canberra is expecting its busiest auction week since Easter (208), with 171 homes scheduled for auction, more than double the number of auctions held last week (84). Auction activity across Brisbane is up 46.9% week-on-week, with 216 homes set to go under the hammer, while Adelaide's auction volume is expected to rise from 130 last week to 156 this week. Across Perth, there are currently 26 homes scheduled for auction, while one auction is set to be held in Tasmania this week.
The complete Auction Market Preview for the week ending 30 October 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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