Login
iscover
CoreLogic reports that auction volumes for the week ending 14 July 2024 have continued to decrease week-on-week.
Auction volumes across the country are set to drop with 1,508 capital city homes scheduled for auction over the week ending 14 July 2024, a measurable decrease from the 1,776 properties that went to auction the week ending 7 July 2024.
In addressing the decrease in activity this week, CoreLogic highlighted that volumes had likely dropped due to the winter school holidays occurring in most states.
Although Melbourne is set to be the busiest auction market this week with 622 homes set to go under the hammer, auction volume has dropped by 7 per cent from last week’s 669 auctions.
Sydney’s auction volume also looks likely to decrease with 573 properties slated for auction, marking a 25.2 per cent fall from last week’s 766 auctions.
Within the smaller capital cities, Brisbane’s 150 homes set for auction mark an increase on the 136 auctions that occurred last week, and are also expected to represent the most activity across the less populous cities.
Adelaide’s auction volume has considerably dropped with the city’s 101 auctions falling from 151 that took place the week prior.
Canberra’s 51 properties currently scheduled for auction should represent a week-on-week increase from the 43 auctions held one week ago.
Perth’s auction volume is set to see a decline with only nine homes set to go under the hammer, a decrease from last week’s 11 auctions.
Tasmania currently has two auctions pencilled in after no homes were taken to auction the week prior.
Looking ahead, CoreLogic has stated that capital city auction volumes are likely to rise slightly next week, with auction volumes likely to sit around the 1,800 mark over the next two weeks.
