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With spring right around the corner, auction volumes are set to rise for the week ending 25 August 2024.
CoreLogic reports that auction volumes across the country are expected to lift, with 2,124 capital city homes scheduled for auction over the week ending 25 August 2024.
It’s a measurable increase from the 2,065 homes that went to auction the week ending 18 August 2024.
Melbourne is once again anticipated to be the busiest auction market this week with 903 properties set to go under the hammer, a 2.1 per cent rise from 884 auctions the week prior.
Sydney’s 868 homes slated for auction represent a 14.8 per cent increase from last week’s 756 auctions, and are expected to mark the city’s busiest week since the 899 auctions held in the week ending 2 June 2024.
Within the smaller capital cities, Adelaide’s 141 homes set for auction mark a decrease on the 154 auctions that occurred the previous week. This level of activity is still anticipated to represent the most activity across the less populous cities.
Brisbane’s auction volume has fallen, with the city’s 136 properties declining from 164 auctions the week prior.
Canberra’s 63 properties currently scheduled for auction will represent a week-on-week decrease from the 91 auctions held one week ago.
Perth’s auction volume is also set to decline with this week’s 12 auctions marking a decline from the 15 homes taken to auction last week.
Tasmania currently has one auction pencilled in, holding steady from last week’s figure.
Looking ahead, CoreLogic has reported that auction volumes will continue to rise in the first week of September. An early view of volumes for the week ending 1 September 2024 shows around 2,350 homes are currently scheduled for auction across the combined capitals.
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