Auction volumes are set to rise this week after last week saw volumes dip, as most states welcomed a long weekend.
There are 1,167 capital city auctions being tracked by CoreLogic, up from 648 auctions last week. However, this is lower than this time last year, when 2,022 homes were taken to auction.
In Melbourne, auction volumes remain low with 59 scheduled across the city this week, a very slight increase from last week (55). Current volumes are only 6% of the activity seen over the same week last year, with 974 Melbourne auctions held, demonstrating the impact the current lockdown has on activity.
Sydney is set to overtake figures from two weeks ago as the busiest week since April, with 820 homes scheduled for auction, making up 70% of all auction activity this week. Last week, 430 properties were auctioned across the city, and one year ago 733 auctions were held.
Across the smaller auction markets, Brisbane is set to be the second busiest auction market this week, with 106 auctions scheduled, and Canberra follows closely with 99. In Adelaide, 69 properties are set for auction this week and Perth is to host 13 auctions. Tasmania has only 1 auction scheduled this week.