auction-update

Auction Report

This week, the combined capital city auction market is set to see its busiest week since early April. There are 1,501 capital city homes scheduled to go under the hammer, a rise in weekly activity of 33%.  Although, lower than the 2,622 auctions held over the same week last year.

Melbourne is expected to see the most significant rise in volumes, with 178% more homes scheduled for auction week-on-week. The 520 scheduled auctions is also the largest number of auctions tracked over a grand final weekend since CoreLogic commenced auction reporting, with 2020 being the first year the decider has been held outside of Melbourne. Historically, less than 150 auctions take place over the grand final weekend, with the exception of 2010 when a grand final draw resulted in a replay over a second weekend.

Scheduled volumes are also set to rise across Sydney this week, with 742 homes to be auctioned, up on the 704 last week, however lower than the 771 last year. Across the smaller auction markets, Canberra is expected to hold the most auctions this week (96), followed by Brisbane (68) and Adelaide (61). While Perth has 12 auctions scheduled and Tasmania with only 2.

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