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With over 3,000 homes scheduled to be auctioned, the combined capital city auction market is set to see its busiest February auction week since 2008, CoreLogic has reported.
The CoreLogic Auction Market Preview for the week ending 27 February 2022 shows that there are 3,472 capital city homes scheduled to go under the hammer, a rise of 19.8 per cent in weekly activity (2,898). It’s a sharp 40.4 per cent increase from the 2,473 auctions held over the same week last year.
Of the major capital cities, Melbourne is expected to see the most significant rise in volumes, with 1,563 homes scheduled for auction, covering 45 per cent of the total capital city auctions to be held this week.
It’s an 18.1 per cent rise from the previous week (1,323) and a 20.3 per cent rise from one year ago (1,299).
Sydney isn’t far behind as it braces for its busiest week of the year with a total of 1,282 auctions scheduled, an expected rise of 25.6 per cent from the week prior (1,021) and up 51.9 per cent from one year ago (844).
Meanwhile, Brisbane, Canberra, and Adelaide are all gearing up for 2022’s busiest auction week so far.
Brisbane (233) is poised to host the most auctions among the smaller capitals, with activity more than double (100.9 per cent) compared to this time last year (116).
Adelaide (212) and Canberra (166) are next, with auction activity up 130.4 per cent and 52.3 per cent, respectively, over the same period last year.
There are 16 homes set to go under the hammer in Perth, while Tasmania is reporting no auctions for this week.
ABOUT THE AUTHOR
Noemi Paminuan-Jara
Noemi is a journalist for Smart Property Investment and Real Estate Business. She has extensive experience writing for business, health, and education industries. Noemi is a contributing author of an abstract published by the American Public Health Association, and Best Practices in Emergency Pedagogical Methods in Germany. She shares ownership of the copyright of an instructional video for pharmacists when communicating with deaf patients. She attended De La Salle University where she obtained a double degree in Psychology and Marketing Management.
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