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This week is expected to be the quietest auction week since early November when auction activity dropped leading up to the Melbourne Cup.
According to CoreLogic, 2,215 capital city homes are set to go under the hammer in the week ending 15 November, a decrease from last week’s 2,617 and a significant drop from the 2,884 auctions this time last year.
Melbourne is set to host 1,003 auctions this week, down from the prior week’s 1,236. Volumes have dropped compared to the 1,298 auctions held across the city this time last year.
Sydney is also expected to see a decrease in auction volume, with 814 live sale events currently scheduled this week. The week prior saw 927 homes hit the block, while this time last year 934 auctions were held.
Across the smaller capitals, Brisbane continues to take the lead with 164 homes pencilled in for auction, a steady decline from the 198 homes taken to auction last week.
Adelaide follows with 142 live sale events scheduled for this week, a small drop from last week's 160 auctions.
Canberra is expected to reduce auction numbers from last week’s 78 to 55 this week.
Perth’s scheduled auctions have significantly increased this week with 37 homes currently scheduled, marking it the busiest auction week of the year for the city.
It is expected that just under 850 capital city homes will be set for auction across the combined capital cities next week, and a smaller amount is scheduled for the week leading up to Christmas.
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