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Defying the usual winter trend, this week’s auction activity is one of the biggest of the year so far with 2,133 homes set to hit the block by the time Sunday comes to a close.
This is the busiest auction week since early April when 2,687 homes went under the hammer, and the fifth-busiest week of 2023 so far.
Six of the seven capitals are expecting a week-on-week rise in auction numbers, pushing the national average a substantial 10.6 per cent higher than the 1,929 held across the capitals last week, and 17.5 per cent above the level seen this time last year.
Sydney is set to record the most action, with 890 homes set for sale at live events. The NSW capital is readying for its busiest week since Easter, with numbers up 16.3 per cent compared to last week’s 765 and a substantial 39.3 per cent above the 639 auctions held this week last year.
Melbourne, however, will be the only city to see auction activity fall, though not significantly. Auctions in Victoria’s capital are slated to be down -2.4 per cent from last week, when it was the most active city for auctions in the nation. Even so, this week’s numbers still surpass that of this time last year by 9.9 per cent.
Auction activity will rise across all the smaller markets, with Brisbane’s auctions increasing 31.7 per cent over the week prior, Adelaide up 31.5 per cent, and Canberra rising 38.2 per cent.
Brisbane is the busiest of the lot, with 158 homes currently scheduled to be put up for sale. Adelaide will host 117 auctions, Canberra 94 and Perth will see 16 homes look for new buyers. Across Tasmania, two auctions are set to occur.
According to CoreLogic, this unseasonal boost in auction volumes aligns with a recent uptick in freshly advertised listings, with many vendors likely aiming to beat the rush as a potentially more competitive spring selling season approaches.
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