Auction activity is set to ease across the combined capitals this week, falling -13.6% compared to last week.
There are currently 1,476 homes scheduled for auction, down from the 1,708 auctions held last week and -18.9% below the 1,819 auctions held this time last year. While CoreLogic expects each capital, excluding Brisbane and Tasmania, will see auction numbers fall week-on-week, the decline is likely due to the ANZAC day public holiday, with many choosing to bridge the Monday into a long weekend.
In Melbourne, there are 633 homes scheduled for auction this week, down -11.3% from last week (714). Melbourne’s auction activity was 8.8% higher this time last year when 689 auctions were held across the city.
There are currently 607 homes set to go under the hammer in Sydney this week. Compared to the 678 auctions held last week, this week’s expected auction activity is -10.5% lower and -15.1% below the number of auctions held this time last year (715).
Across the smaller capitals, Brisbane is set to host the busiest auction week, with 95 auctions scheduled this week, up 6.7% compared to last week (89). The 66 auctions scheduled in Adelaide this week is just over half the number of auctions seen last week (120), while Canberra’s auction activity (65) is set to fall -30.1% week-on-week. Seven auctions are scheduled to occur in Perth this week, while three homes in Tasmania are set to go under the hammer.
An early view of next week’s numbers suggests that auction activity will rebound next week, with just over 1,800 homes currently scheduled for auction across the combined capitals.
The complete Auction Market Preview for the week ending 23 April 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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