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CoreLogic reports that auction volumes for the week ending 23 June 2024 are set to decrease from last week’s activity.
Auction volumes across the country are expected to drop with 2,124 capital city homes scheduled for auction over the week ending 23 June 2024, a slight decrease from the 2,276 homes that went to auction the week ending 16 June 2024.
Although Melbourne is set to be the busiest auction market this week with 941 homes set to go under the hammer, auction volume has dropped by 13.1 per cent from last week’s 1,083 auctions.
Sydney’s auction volume looks like it will moderately increase this week with 866 properties set to go under the hammer, this projection marking a 6.7 per cent increase on last week’s 812 auctions.
Turning attention to the smaller capitals, Brisbane’s 128 properties slated for auction marks a sizeable decrease on the 192 auctions that occurred last week, which is still expected to be the most activity among the less populous cities.
Adelaide’s 120 homes scheduled for auction should register as a modest improvement on last week’s 115 auctions.
Canberra’s volume also slightly decreased from last week with 54 properties currently scheduled for auction.
Perth is also set to see a decline with only 12 homes set to go under the hammer.
Tasmania currently has three auctions pencilled in, an increase on the two homes taken to auction last week.
Looking at an early view of the week ending 30 June 2024, CoreLogic predicts that auction volumes are expected to fall slightly, with around 2,060 auctions expected to take place.
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