By Jade Harling, Research Analyst
The combined capital cities are expected to see auction activity ramp up over the week, with a total of 2,593 properties set to go under the hammer. This week’s scheduled volumes are 24% higher than last week’s final figures which saw 2,085 auctions held. This time last year, higher 2,804 homes were taken to auction across the combined capitals.
There are over 1,000 homes set to be taken to auction across each of Australia’s two largest auction markets this week. Melbourne is expected to be the busier of the two with 1,153 properties scheduled for auction, an increase of 28% last week. Sydney isn’t far behind with a total of 1,037 auctions scheduled to take place, an expected rise of almost 20%.
While activity across Melbourne has certainly bounced back from the lows we were seeing throughout most of the second half of the year, volumes are still below 2019 levels with 1,405 homes taken to auction over the same week last year. Meanwhile one year ago in Sydney, volumes were lower at 875.
The remaining smaller markets are all expected to see a rise in activity over the week, with Brisbane set to be the busiest of the smaller cities with 147 auctions scheduled to take place. This is followed by Canberra (115), Adelaide (101), Perth (36) and Tasmania (4).
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