After hosting the busiest week since the pre-Easter spike last week (3,226), auction activity across the combined capitals is down -15.9% this week.
Across the combined capital cities, 2,713 homes are scheduled for auction, as each of the capitals expect a fall in auction activity. While down week on week, this week’s auction activity is up 1.7% from the 2,668 auctions that were held this time last year.
Melbourne is set to host the most auctions this week, with 1,239 homes scheduled to go under the hammer. This week’s auction activity is down -16.2% from the 1,478 auctions held last week, but up 14.6% from the 1,081 auctions that occurred this time last year.
After recording auction volumes in excess of 1,000 last week (1,109), Sydney’s auction activity is set to fall across the city, with 978 auctions scheduled to occur this week. Despite the 11.8% drop in auction activity, this week is expected to be Sydney’s second busiest auction week since the pre-Easter spike (1,490). Compared to this time last year, when 1,164 auctions were held, this week’s scheduled auctions are down 16.0%.
Across the smaller capital cities, scheduled auctions are down 22.4% week on week, but up 17.3% compared to this time last year. Adelaide (215) is set to have the busiest week amongst the smaller capitals, with scheduled auctions up 42.4% compared to this time last year. Brisbane’s auction activity (135) is down compared to both the week prior (44.9%) and this time last year (-11.2%), while Canberra’s scheduled auctions (133) are up 30.4% compared to the 102 held this time last year. In Perth, 12 homes are set to go under the hammer, while just one auction is scheduled to occur in Tasmania this week.
The complete Auction Market Preview for week ending 5 June 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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