Login
iscover
Warmer weather is bringing heat to the auction market, with this week recording a 16.2 per cent increase in volumes.
According to CoreLogic, there are 2,454 capital city homes currently scheduled for auction this week, up 16.2 per cent on last week’s 2,112 and 6.1 per cent higher than this time last year.
Melbourne will be the busiest auction market, with 1,127 auctions scheduled this week, up 15.7 per cent on the seven days prior, which came in at 974. This is also a 14.8 per cent increase on the 982 homes that hit the block this time last year. If all of these auctions go ahead, it will be the busiest week the city has seen since the lead up to Easter and the fifth busiest auction week of the year to date.
Sydney comes close second once again this week, with 918 auctions set to hit the block in the harbour city. It’s an 18.3 per cent increase from last week. Over the same week last year, 927 homes were taken to auction. Similarly to Melbourne, this will be Sydney’s biggest auction week since Easter, and the third busiest week of the year.
Across the smaller capitals, Brisbane is set to be the busiest city with 172 homes scheduled for auction, up from 149 last week.
There are 150 auctions scheduled in Adelaide, up from 148 last week, while Canberra is set to see 68 homes taken to auction, up from 49 last week.
In Perth, there are 16 auctions scheduled, compared to 13 last week, while Tasmania is set to see three homes taken to auction.
Next week, the market is expected to hit a new speed with another rise in volumes – roughly 2,800 capital city homes set to go under the hammer as we head into mid-September.
You are not authorised to post comments.
Comments will undergo moderation before they get published.