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Sales action has been ramping up in the lead-up to the official start of warmer weather, but for the first week of spring, the number of auctions scheduled has actually decreased.
According to CoreLogic, there are 2,132 capital city homes currently scheduled for auction for the week ending 8 September 2024, down 7.9 per cent on last week’s 2,315.
It’s also a reduction in the volume recorded this time last year, when 2,275 homes went under the hammer across the combined capitals.
But though spring might technically be off to a slow start, CoreLogic expects the week to be something of an anomaly, with the forecast showing that volumes will hover around 2,500 for the next two weeks.
This week, Melbourne is set to be the busiest auction market with 955 auctions scheduled, though that’s still a decrease of 9.2 per cent on last week’s 1,052. It’s also 6 per cent lower than this time last year.
To the north, Sydney will see 820 homes hit the block, down 6.2 per cent from the previous period’s 874 homes and also below the 898 dwellings scheduled during the same week in 2023.
Brisbane will be the busiest of the smaller capitals with 152 homes slated for auction – roughly on par with last week’s 156.
There are 147 auctions scheduled in Adelaide, down from 153 last week, while Canberra is set to see 44 homes taken to auction, down from 70 last week. Perth has 11 auctions scheduled, while Tasmania is set to see three homes taken to auction.
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