Capital city auction activity is set to rise 7.5% this week, with 3,186 homes currently scheduled for auction.
With each of the capital cities expecting a rise in auction numbers, this week is slated to be the combined capital’s second busiest of the year, behind only the week ending 29th October (3,381). This time last year, auction numbers were -14.7% lower, with just 2,717 homes auctioned.
Sydney is expecting a 6.3% rise in auction numbers this week, with 1,149 homes set to go under the hammer. This week is set to narrowly beat out the final week of Spring (1,142) as the city's busiest of the year. The previous week saw 1,081 homes auctioned, while this week last year, 964 auctions were held across the city.
Melbourne is set to host its second busiest week of the year, behind only the week ending 29th October (1,725), with 1,462 auctions currently scheduled. Up 6.3% from last week (1,375), this week's auction activity is 19.2% higher than the numbers seen this time last year, when 1,226 homes went under the hammer.
Across the smaller capitals, Brisbane is set to host the busiest auction week, with 220 auctions scheduled across the city, up 22.9% week-on-week. This is followed by Adelaide (194), up 2.1%, with this week set to overtake last week (190) as the busiest week of the year. Auction numbers across Canberra (140) are slated to rise 17.6% this week, while Perth is expecting 21 homes to go under the hammer, up from 17 last week. There are currently no auctions scheduled to occur in Tasmania this week.
Auction activity is set to ease slightly next week in the anticipation of festive season slowdown.
The complete Auction Market Preview for the week ending 10 December 2023 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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