With this being the last week before Easter, we are expecting to see the busiest auction week since late-May 2022 when 3,226 auctions were held.
There are currently 2,876 homes scheduled for auction across the combined capital cities this week, up 24.9% on last week (2,303), although -10.4% lower than this time last year (3,209). Although auction volumes have increased week-on-week, they are significantly lower than the week prior to Easter in 2022 (4,035), and the quietest week prior to Easter since 2019 (2,276).
There are 1,257 auctions scheduled in Melbourne this week, the busiest auction week since mid-June last year (1,266). While up 10.6% on last week (1,137), the number of homes scheduled for auction this week is -16.3% lower than the same week last year (1,501). In comparison, the week prior to Easter in 2022 saw 1,795 homes taken to auction across the city.
In Sydney, auction volumes are set to exceed 1,000 for the first time this year with 1,130 homes scheduled to go under the hammer. This marks the busiest auction week since the week prior to Easter in 2022 (1,490). While up 43.0% on last week (790), the number of homes set for auction this week is similar to this time last year (1,136).
Across the smaller capital cities, Adelaide, Brisbane and Canberra are set to see auction volumes rise over the week. There are 177 auctions currently scheduled in Brisbane, up 33.1% on last week (133), followed closely by Adelaide (174), up 32.8% on last week (131). Canberra is set to host 119 auctions this week, up 32.2% on last week when 90 auctions were held across the city. Perth is set to see slightly fewer homes taken to auction over the week (16, down from 18), as is Tasmania, where three auctions are currently scheduled, down from four last week.
The complete Auction Market Preview for the week ending 2 April 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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