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Off the back of last week being CoreLogic’s biggest weekend for auctions ever, this week won’t be far behind, proving this festive season market is the gift that keeps on giving.
CoreLogic’s Weekly Auction Preview for the week ending 19 December has revealed another bumper week for auctions is on its way.
In fact, the research group is expecting the last weekend before Christmas arrives to be the second-busiest auction week since records commenced back in 2008.
After almost 5,000 homes went under the hammer last week, CoreLogic has flagged that 4,880 homes are scheduled to go to auction this week.
It’s more than double the 2,331 auctions that took place over the same period in 2020.
Melbourne is gearing up for its second-busiest on record, with 2,179 auctions expected this week. Anything over 2,071 (recorded in March 2018) would see the week take this title.
Volumes are 6 per cent lower than they were last week, when the city scored its busiest week for auctions ever, when 2,318 auctions went ahead.
Sydney’s volume of available properties is also down on last week – but only slightly.
A total of 1,706 homes are scheduled to go under the hammer, which is just down from last week’s record high of 1,791 auctions.
Echoing Melbourne, it’s likely this will be Sydney’s second-busiest on record and sits in stark contrast with the 764 auctions held this time last year.
The smaller auction markets are seeing no such slowdown, with predicted auction numbers up across Adelaide, Brisbane and Canberra.
CoreLogic is anticipating that all three cities will once again break the record-highs set last week.
An 18 per cent increase in auction volume is available in Brisbane, with 361 scheduled auctions, up from last week’s 306.
Adelaide has 348 homes pencilled in to go under the hammer, up from 309 last week.
In Canberra, buyers are also spoilt for choice, with the city set to see 252 homes go to auction in the lead up to Christmas, up from last week’s 224.
Across in Western Australia, Perth has 32 auctions scheduled for this week, while Tasmania is set to play host to two auctions of its own.
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