Login
iscover
Auction activity continues to be strong across the country despite a decline in the number of properties set to undergo the hammer this week.
CoreLogic data shows 1,821 auctions across capital cities are scheduled to take place over the week ending 6 August, down 7.7 per cent from the previous week.
Despite the decline in the weekly figures, this week’s number of anticipated auctions remains 7.1 per cent above the weekly average recorded over the year to date of 1,700.
Melbourne is set to host 792 auctions this week, representing a 9 per cent decline from last week’s 870 homes auctioned.
Meanwhile, Sydney’s auction activity is expected to remain relatively stable, with 748 homes scheduled to go under the hammer – only one less than last week.
Among the smaller capitals, Adelaide is set to be the busiest market with 105 scheduled auctions, despite a slight decrease of nine homes in auction activity this week.
Brisbane is set for its quietest auction week since Easter 2023, with only 86 auctions scheduled – less than half of last week’s total of 173 auctions.
Canberra is gearing up for its most bustling week in the past nine weeks, with 81 homes lined up for auction.
Meanwhile, Perth is preparing for seven auctions, and two auctions are currently scheduled in Tasmania for this week.
Last week, the combined capitals saw a 13.8 per cent increase in the number of auctions, with 1,973 homes going under the hammer, compared to 1,734 auctions in the previous week.
However, the final auction clearance rate dipped by -1.2 percentage points to 64.9 per cent, down from the previous week’s result of 66.1 per cent.
Activity across the combined capitals is set to increase in the upcoming week, with just over 1,990 homes currently scheduled for auction.
You are not authorised to post comments.
Comments will undergo moderation before they get published.