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CoreLogic reports that auction volumes for the week ending 5 May are set to be the busiest since Easter.
Auction volumes are set to rise with 2,225 capital city homes anticipated to go under the hammer over the week ending 5 May 2024, a substantial increase over the 1,964 homes that went to auction the week ending 28 April 2024.
Melbourne is once again expected to be the busiest auction market this week with 1,048 homes set for auction, a 17.4 per cent increase over last week and a whopping 45.8 per cent increase on this time last year.
Sydney’s auction volume should also see an upswing with 823 homes scheduled for auction, this projection up 17.4 per cent on last week and 45.8 per cent higher than this time last year.
Across the smaller capital cities, auction volume is scheduled to largely decline, although Brisbane does buck the trend.
Brisbane’s 168 homes slated for auction see the city’s volumes hold steady with last week, while Adelaide’s 124 homes up for auction will register a decrease on last week’s numbers.
Canberra will see a slight decrease over last week, with 79 properties scheduled for auction.
Perth, too, is set to see a decline, with only 12 homes set to go under the hammer.
Tasmania has one auction pencilled in, after one home was also taken to auction last week.
Looking towards next week, an early view of auction volumes for the week ending 12 May showcases that auction volumes should stay high, with CoreLogic predicting just shy of 2,200 auctions will take place.
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