Auction activity is set to rebound this week after the last weeks’ ‘unofficial long weekend’ saw volumes decrease.
Across the combined capitals, 1,793 homes are set to go under the hammer this week, up 24.5% from the 1,440 auctions held last week. This week last year, just prior to the RBA’s first cash rate rise (3rd May 2022), 2,699 homes were auctioned across the combined capitals.
Melbourne is set to host the busiest auction market this week, with 759 homes scheduled for auction across the city. This week's expected auction activity is 20.7% higher than the 629 auctions held last week but is -41.2% lower than the 1,290 auctions held during the same week last year.
There are 605 homes scheduled to go under the hammer in Sydney this week, up from the 574 auctions held last week but down -33.8% on the 914 held this week last year.
Brisbane is expecting the busiest auction week among the smaller capitals, with 200 homes scheduled for auction this week, more than double the number of auctions held last week (96) and 7.5% more than the 186 homes auctioned this time last year. In Adelaide, 151 homes are set to go under the hammer, while 56 auctions are set to occur in Canberra this week. In Perth, 19 homes are scheduled for auction this week, and three homes in Tasmania are currently scheduled to go under the hammer.
The complete Auction Market Preview for the week ending 30 April 2023 can be downloaded below
Auction Market Preview
Meet Duane Kaak
Leader, Data Acquisition and Research
A dynamic leader and subject matter expert in the banking, financial services, and real estate industries Duane Kaak, brings more than 20 years’ experience to his role as Leader of Corelogic's Data Acquisition and Research team. Duane has been instrumental in managing and leading teams of researchers across Australia in Corelogic's Commercial, Real Estate and Construction segments for the past four years.
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