Auction activity across the combined capitals is set to inch higher through the first week of summer, with 3,041 homes scheduled for auction
Up 3.1% compared to last week (2,949), this week is slated to be the capital’s second busiest of the year, behind the week ending 29th October (3,381), with both Sydney and Adelaide expecting their busiest week of the year. This time last year, auction numbers were -16.6% lower, with 2,537 homes auctioned across the capitals.
Melbourne is expecting a 6.1% rise in weekly auction numbers, with 1,389 homes set to go under the hammer this week. The previous week saw 1,309 homes auctioned, while this week last year, 1,158 auctions were held across the city.
Auction activity across Sydney is set to inch 0.6% higher this week, after hosting the busiest auction week of the year so far last week (1,142). This week, 1,149 homes are currently scheduled for auction. This week’s expected numbers are 58.7% higher than the weekly average seen over the year so far (724) and 29.0% higher than the 891 homes auctioned this time last year.
Across the smaller capitals, Adelaide is set to host the busiest auction week, with 190 homes currently scheduled for auction, up 21.8% week-on-week. Brisbane’s weekly auction numbers are expected to fall -11.1% to 177, while 118 auctions are currently scheduled to occur in Canberra, down -3.3%. In Perth, 16 homes are set to go under the hammer, while just two auctions are expected in Tasmania this week.
Auction activity is expected to remain strong over the first few weeks of summer before easing over the festive season. The coming weeks will be an important touchstone for how market conditions could play out in early 2024.
The complete Auction Market Preview for the week ending 3 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.
Full profile