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The number of homes slated to go under the hammer for the week ending 22 September makes substantial gains on the seven days prior.
According to CoreLogic, spring selling season is performing as expected, with this week set to overtake last week as the capitals’ busiest since late March.
The nation currently has 2,786 homes scheduled for auction, with this week’s auction activity up 13.4 per cent compared to the previous week and 5.2 per cent higher than the 2,648 auctions seen this time last year.
As has been the case through most of this year, Melbourne will be the busiest city of all the capitals, with 1,300 homes set to go under the hammer – an 11.7 per cent increase on the previous week and a substantial 19 per cent above this time last year.
Sydney will be the second busiest auction week of the year to date, behind only the week ending 24 March. The harbour city is expected to take 1,061 homes to auction by the end of the week, which is an increase of 21.7 per cent on last week (872), and 4.3 per cent higher than this time last year.
Across the smaller capitals, Adelaide has 207 homes scheduled to go under the hammer, up 33.5 per cent compared to last week. Brisbane is expecting a -25.0 per cent decline in weekly auction activity, with 132 auctions scheduled, while there are 70 homes set for auction in Canberra, down from 70 last week. In Perth, 16 homes are currently scheduled for auction, up from 15 last week, while no auctions are scheduled in Tasmania.
Looking ahead, Melbourne’s AFL grand final will see sellers avoid scheduling auctions over the week, with numbers expected to fall 45 per cent in the Victorian capital next week and remain compressed heading into the Labour Day/Kings’ birthday long weekends in NSW, ACT, Queensland and South Australia.
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