Login
iscover
CoreLogic reports that auction volumes across the capitals are set to vary due to the upcoming public holidays in several states.
Auction volumes across the country are anticipated to moderately rise week-on-week, with 2,007 capital city homes scheduled for auction over the week ending 6 October 2024.
While this volume marks a 9.3 per cent increase from the 1,836 homes taken to auction the week ending 29 September 2024, last week was also impacted by the AFL Grand Final in Melbourne, which has lately been the busiest auction market of the capitals.
This week, CoreLogic highlighted that auction volumes are set to remain relatively low as a result of the Labour Day long weekend in NSW, the ACT and South Australia, and the King’s Birthday long weekend in Queensland.
Melbourne’s auction volume has recovered after the AFL Grand Final induced slowdown and is anticipated to be the busiest auction market this week, with 1,089 properties set to go under the hammer – a significant increase from the 236 auctions held last week.
Auction activity in Sydney is expected to drop due to the Labour Day long weekend, with the 588 homes scheduled for auction set to be the city's quietest auction week since the 560 auctions held in mid-July of this year.
Turning attention to the smaller capitals, Brisbane’s auction volume has fallen with the city’s 153 auctions just shy of the 154 homes that went under the hammer last week. This level of activity is still expected to represent the most activity across the less populous cities.
Adelaide currently has 129 properties scheduled for auction, holding steady from last week’s figures.
Canberra’s auction volume is set to considerably decline with this week’s 37 homes falling from the 108 homes taken to auction last week.
Tasmania currently has one auction pencilled in, holding steady from the one home taken to auction the week prior.
Looking ahead, CoreLogic predicts that auction volumes will rise more substantially next week, with an early view of volumes for the week ending 13 October 2024 showing around 2,650 homes currently scheduled for auction across the combined capitals.
