There are 1,392 homes scheduled for auction across the combined capital cities this week, increasing on the 1,176 auctions last week and higher than the 1,124 last year. Sydney and Melbourne were both expected to see a rise in the number of homes auctioned this week, however given Melbourne’s restrictions, a large portion of these are likely to be withdrawn, as we’ve seen over the past few weeks.
In Sydney, 642 auctions are scheduled across the city, a 25% rise on last week’s volumes (515) and also higher than scheduled volumes from one year ago (394). There are 558 Melbourne homes scheduled for auction this week, an expected rise of 11.6% on last week’s volumes (500), which saw a large number withdrawn (209); a trend that is likely to persist through the lockdown period.
We broadcast the most comprehensive and up to date report on auction activity around Australia – powered by CoreLogic – every Friday and Monday exclusively on Realty Media’s Real Estate Talk. See all our shows at Realty.com.au