Auction volumes are set to drop across the combined capital cities this week, with 1,334 homes currently scheduled for auction, down -35.1% from the 2,054 auctions held both last week and this time last year.
The lower volumes are largely attributed to the Labour Day long weekend in Victoria, along with public holidays in SA, ACT and Tas this coming Monday.
Sydney is set to be the busiest auction market this week with 708 homes scheduled for auction, down -9.5% from last week when 782 auctions were held, and -29.8% lower than this time last year (1,008).
The Melbourne auction market is significantly quieter this week due to Victoria’s Labour Day long weekend, with 358 homes currently scheduled for auction, down -61.4% from last week (927) and -41.1% lower than this time last year (608).
Across the smaller capital cities, Brisbane is set to host the most auctions this week (111), up 2.8% from last week (108). Adelaide (80, down from 119) and Canberra (61, down from 108) are both expecting to see auction volumes drop week-on-week, thanks in part to their public holidays on Monday. In Perth, 15 homes are currently scheduled for auction, up from nine last week, while there is just one auction scheduled in Tasmania, in line with last week and this time last year. Over the same week last year, auction volumes across the smaller capitals were higher with 181 homes taken to auction across Brisbane, 155 in Adelaide, 84 in Canberra and 17 in Perth.
The complete Auction Market Preview for the week ending 12 March 2023 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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