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After a chilly few weeks, auction volumes are set to thaw for the week ending 11 August 2024.
CoreLogic has reported that auction volumes across the country are set to rise, with 1,858 capital city homes scheduled for auction over the week ending 11 August 2024, a measurable increase from the 1,778 homes that went to auction the week ending 4 August 2024.
Melbourne is once again set to be the busiest auction market this week with 867 homes to go under the hammer, marking a moderate increase from last week’s 834 auctions.
Sydney’s auction volume looks like it will also rise this week with 668 properties scheduled for auction, a sizeable increase from 612 auctions the week prior.
Turning attention to the smaller capitals, Brisbane’s 140 homes slated for auction sit almost at par with the 143 auctions that occurred the previous week. This level of activity is still anticipated to represent the most activity across the less populous cities.
Adelaide’s 132 homes currently scheduled for auction should register as a minute improvement on last week’s 130 auctions.
Canberra’s auction volume is expected to decrease with 39 homes set to go under the hammer, down from 46 auctions the week prior.
Perth is also set to see a decline with this week’s 11 auctions falling just short of the 12 homes taken to auction last week.
Tasmania currently has one auction pencilled in, holding steady from last week’s figures.
Looking ahead, CoreLogic predicts that auction volumes will continue to rise in the week ending 18 August 2024, with around 2,040 auctions currently scheduled across the combined capitals.
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