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CoreLogic reports that auction volumes for the week ending 19 May 2024 are set to decrease from last week’s activity.
Auction volumes across the country are set to decrease, with 2,151 capital city homes scheduled for auction over the week ending 19 May 2024 – a decrease from the 2,237 homes that went to auction the week ending 12 May 2024.
Although Melbourne is set to be the busiest auction market this week with 979 homes set to go under the hammer, auction volume has dropped noticeably from last week’s 1,104 auctions held.
Sydney’s auction volume has risen ever so slightly this week, with 778 homes scheduled for auction, an increase over last week’s 773 homes.
Across the smaller capital cities, the two busier auction markets of Brisbane and Adelaide have seen their auction volumes measurably increase.
Brisbane’s 173 homes slated for auction see this week’s volumes up 13.1 per cent over last week’s 153 auctions.
Notably, Adelaide’s 151 homes scheduled for auction mark a sizeable increase of 26.9 per cent over last week’s 119 auctions.
Canberra will see a modest decrease over last week with 66 properties scheduled for auction.
Perth is also set to see a decline with only four homes set to go under the hammer.
Tasmania currently has no homes scheduled for auction, a decrease from the two properties taken to auction last week.
Looking towards next week, an early view of auction volumes for the week ending 26 May 2024 showcases that auction volumes are expected to increase, with CoreLogic predicting just under 2,250 auctions will take place.
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