Auction activity continues to rise across the combined capital cities with scheduled auction volumes up by 27% over the week. CoreLogic is currently tracking a total of 1,659 capital city auctions, increasing on last week’s final count of 1,304 auctions held and higher than the 1,596 one year ago. Melbourne is expected to make up 47% of all auction activity this week with 782 homes set to go under the hammer, up on last week’s 615 auctions held, and the 743 recorded over the same week last year.
Following Melbourne, with the second-largest proportion of activity, is of course Sydney. Sydney will host 38% of scheduled auctions this week, with 634 properties scheduled to go under the hammer. This week’s scheduled count is higher than the final figure last week (447) and last year (583).
Across the smaller cities, scheduled volumes are lower over the week in Adelaide (78) and Brisbane (81), while Canberra (65) and Perth (18) are set to host more auctions. Tasmania has only 1 auction scheduled for this week.