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Auction volumes for the week ending 28 July 2024 are expected to rise from last week’s activity.
CoreLogic reports auction volumes across the country are set to rise with 1,973 capital city homes scheduled for auction over the week ending 28 July 2024, a measurable increase from the 1,777 properties that went to auction the week ending 21 July 2024.
Melbourne is once more set to be the busiest auction market this week with 857 homes set to go under the hammer, marking a sizeable 11.7 per cent rise from last week’s 767 auctions.
Sydney’s auction volume is expected to significantly increase with 740 properties scheduled for auction, a pronounced 22.3 per cent increase from last week’s 605 auctions.
Within the smaller capital cities, Brisbane’s 205 homes slated for auction sit almost at par with the 208 auctions that occurred the previous week. This level of activity is anticipated to represent the most activity across the less populous cities.
Adelaide’s auction volume has declined with the city’s 125 auctions marking a decrease from the 139 auctions held the week prior.
Canberra’s 33 homes currently scheduled for auction are expected to register as a week-on-week decrease from last week’s 49 auctions.
Perth’s auction volume is set to buck the trend with 12 homes slated for auction marking an increase from the nine homes taken to auction last week.
Tasmania currently has one auction pencilled in after no homes were taken to auction the week prior.
Looking ahead, CoreLogic has reported that the first week of August will see fewer homes taken to auction. An early view of volumes for the week ending 4 August 2024 shows around 1,760 homes are scheduled for auction across the combined capitals.
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