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The last month of the year has brought with it a bump of summer auctions, according to the latest auction market preview from CoreLogic.
A total of 2,579 homes are set to go under the hammer in the week ending 4 December 2022.
CoreLogic stated that this continues the upward trend seen across the past four weeks — with scheduled auction volumes up 6.8 per cent.
It’ll make the first weekend of December the busiest period for auctions since mid-June, when 2,528 auctions took place.
Despite the higher figures, it’s still -37.9 per cent lower than the same period in 2021, when weekly auction volumes were higher than 4,000 for just the second time on record.
Melbourne looks set to see a third consecutive week of 1,000-plus auctions. At present, the Victorian capital is expecting 1,151 homes to go under the hammer across the city — a 13.8 per cent boost on the 1,011 that took place in the last full week of November.
Sydney is expecting 937 auctions over the seven-day period — a 0.9 per cent lift on last week’s figure. It makes this week the busiest week in the harbourside city since late May, when 1,109 homes went to auction.
Looking at the smaller auction markets, Adelaide looks likely to overtake Brisbane as the busiest city for auctions this week.
The South Australian capital is expecting 180 auctions over the week ending 4 December — a 20.8 per cent boost to last week’s numbers.
In Brisbane, 169 auctions are set to take place — a 9.7 per cent lift in activity since the last week of November.
Bucking the trend for increased activity, Canberra has just 125 auctions pencilled in — which is 17.8 per cent less than were scheduled last week.
Over in Perth, 14 homes are set to go to auction across the week, while Tasmania is expecting three auctions across the seven-day period.
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
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