Capital city auction activity is set to rise 1.6% this week, with 1,751 homes expected to go under the hammer across the combined capitals. The previous week saw 1,724 homes auctioned, while this week last year, 2,879 homes went under the hammer across the combined capitals.

Melbourne is the busiest capital auction market this week, with 728 homes scheduled for auction across the city. This week’s scheduled auction activity is 1.3% higher than last week when 719 auctions were held but remains -43.6% below the 1,291 auctions that were held over the same week in 2022.

There are 654 homes scheduled to go under the hammer in Sydney this week, up 2.3% from the 639 auctions held last week. Volumes are -30.9% below the 946 held this week last year.

Auction activity across the smaller capital cities is likely to hold fairly steady this week, up just 0.8% week-on-week. Brisbane will be the busiest week among the smaller capitals, with 134 homes scheduled for auction this week, up three from the 131 held last week. Adelaide has 123 auctions scheduled, slightly down on last week and Canberra has 98, slightly up when compared to the previous week.

Perth has 12 homes scheduled for auction this week, while two properties are currently set to go under the hammer in Tasmania.

In defiance of the seasonal slowdown usually seen this time of year, capital city auction activity is expected to rise over the coming weeks, with around 1,950 homes currently scheduled for auction next week and roughly 1,900 auctions booked for the final week of May.

Last week’s final combined capitals clearance rate of 69.9% was the highest recorded since late February 2022.