This week is shaping up to be the largest auction week since late June, with 2,260 properties already set for sale across the combined capital cities.
The beginning of September was a slow start to the spring selling season, with auction volumes down 9.6 per cent in the first week.
CoreLogic has noted some progress in the volume of auctions this week across Australia’s capital cities, being 17.8 per cent greater than it was last week (1,918) and 35 per cent higher than it was at this time last year (1,670) when lockdowns continued to impair numerous auction markets.
This is the busiest week in Melbourne since June, with 1,006 homes scheduled for auction, up 18.8 per cent from last week’s 847 auctions and 133.4 per cent from this time last year when the city was in its sixth lockdown (431).
It’s also set to be the largest auction week for Sydney since June, with 835 homes presently set for sale. The number of auctions held in the city this week is up 19.6 per cent from the previous week when 698 were held and up 6.2 per cent from the same period last year (786).
In Brisbane, auction volumes are expected to increase by 33.1 per cent week-on-week, with 169 homes planned to go under the hammer this week, up from 127 homes that went under the hammer the previous week. This will make the Brisbane auction market the busiest among the smaller capitals.
This week, 129 auctions are scheduled to take place in Adelaide, the same number as one week prior.
The nation’s capital figures have also stayed steady, with 102 homes set to be auctioned off in Canberra — a 1 per cent week-on-week increase (101).
Perth will see 18 homes taken to auction this week, an increase from last week’s total of 15, while there is only one auction scheduled for Tasmania.
To view the results of last week’s auctions, please click here.