Slight dip in auction volumes after busiest auction week of the year
There are 2,650 homes scheduled for auction across the combined capital cities this week, down -7.1% on last week which was the busiest auction week of the year to date (2,853). This time last year, 2,054 auctions were held.
There are 951 auctions scheduled in Sydney this week, down -3.4% on last week (984), although 21.6% higher than this week last year (782).
In Melbourne, there are 1,300 homes set for auction this week, down -10.8% on last week (1,457), while up 40.2% on this week last year (927).
Across the smaller capitals, Brisbane is once again set to host the most auctions (148), down from 168 last week, followed closely by Adelaide (136), down from 145 last week. In Canberra, 105 auctions are set to take place this week, up from 90 last week. Eight auctions are scheduled in Perth this week, compared to seven last week, while there are two homes scheduled for auction in Tasmania, in line with the previous week.
Over the following week ending 10th March, public holiday long weekends across four of the eight states and territories means we will see a significant drop in overall auction volumes. Early numbers indicate just over 1,700 homes will be taken to auction across the combined capitals next week, with fewer than 500 of those auctions scheduled to take place in Melbourne.
The complete Auction Market Preview for the week ending 3 March 2024 can be downloaded below.
Auction Market Preview
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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