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Undeterred by the chilly winter season, auction activities maintain its momentum as the number of properties scheduled to go under the hammer continues to rise this week.
CoreLogic data shows 2,028 auctions are scheduled to take place over the week ending 30 July – up 17.3 per cent from the previous week.
The figures mark the third consecutive week of a positive upswing in auction numbers and also the first time there are more than 2,000 auctions set to take place since the week prior to Easter.
Melbourne is set to be the most active auction market this week, experiencing a significant 28.6 per cent increase from the previous week’s 668 auctions to a total of 859 scheduled auctions.
Sydney’s auction market is also gearing up for a surge in activity, as the number of properties set to go under the hammer is projected to significantly increase to 814, a startling 16.5 per cent rise from the previous week’s 699 listings.
Across the remaining major capital cities, Brisbane has a 6.5 per cent increase in scheduled auction numbers to 179 homes this week.
According to Duane Kaak, research analyst of CoreLogic Australia, there are notable auction hotspots in the sunshine capital during the week.
“In the Brisbane riverside suburb of Bulimba, an in-room event on Saturday morning will help boost another above-average week of activity,” he stated.
Auction activity in Adelaide sees a slight dip this week, with only three fewer homes slated to go under the hammer, bringing the total to 112 scheduled dwellings.
Similarly, Canberra’s auction activity also sees a week-on-week decrease with 53 homes listed, indicating a drop of 20.9 per cent compared to last week. Meanwhile, Perth is gearing up for 11 auctions while no auctions are scheduled in Tasmania this week.
Despite the positive week-on-week increase in combined capital activity, the upcoming week is expected to witness a reduction, as there are currently just over 1,820 homes scheduled for auction.
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