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CoreLogic reports that auction volumes for the week ending 21 July 2024 are expected to increase week-on-week.
Auction volumes across the country are set to rise with 1,786 capital city homes scheduled for auction over the week ending 21 July 2024, a sizeable increase from the 1,512 properties that went to auction in the week ending 14 July 2024.
Melbourne is once again set to be the busiest auction market this week with 763 homes set to go under the hammer, marking a significant 21.5 per cent rise from last week’s 628 auctions.
Sydney’s auction volume also looks likely to increase with 637 properties scheduled for auction, a considerable 13.8 per cent increase from last week’s 560 auctions.
Within the smaller capital cities, Brisbane’s 198 homes set to go under the hammer represents a moderate increase on the 150 auctions that occurred last week, and is also expected to mark the most activity across the less populous cities.
Adelaide’s auction volume has also improved with the city’s 136 auctions registering as a slight improvement on last week’s 111 auctions.
Canberra’s volume is set to buck the trend with this week’s 45 homes slated for auction falling from the 50 auctions held the week prior.
Perth is also set for a decline with this week’s seven homes slated for auction marking a decrease from the 11 homes taken to auction last week.
Tasmania currently has no homes scheduled for auction.
Looking ahead, CoreLogic has shared its anticipation that auction volumes will rise further, with an early view of volumes for the week ending 28 July 2024 showing roughly 1,950 homes are scheduled for auction across the combined capitals.
