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Auction volumes will rise over the week ending on the first official day of spring.
Altogether, 2,333 capital city homes are scheduled for auction over the week ending 1 September 2024, marking a significant increase from the 2,118 homes that went to auction the week ending 25 August 2024.
Melbourne is once again set to be the busiest auction market this week, with 1,022 homes going under the hammer, a 9 per cent rise from 938 auctions the week prior.
Notably, the city’s auction volume this week marks the first time Melbourne has exceeded the 1,000 mark since the 1,083 auctions held in the week ending 16 June 2024.
Sydney’s 930 homes up for auction represent a 14 per cent increase from last week’s 816 auctions, and are expected to mark the city’s busiest week since the 1,199 auctions held in the week prior to Easter.
Turning attention to the smaller capitals, Brisbane is the sole city anticipated to see an increase in auction volumes week-on-week with 166 homes slated for auction, an increase from the 137 auctions held the week prior.
Adelaide’s auction volume is set to reduce with the city’s 143 auctions falling just short of the 150 homes taken to auction last week.
Canberra currently has 65 properties scheduled for auction, holding steady from last week’s figure.
Perth’s auction volume is set to decline with this week’s seven auctions marking a decrease from the 11 homes taken to auction last week.
Tasmania currently has no homes scheduled for auction.
Looking ahead, CoreLogic predicts that auction volumes will fall next week, with an early view of volumes for the week ending 8 September 2024 showing around 2,130 homes are currently scheduled for auction across the combined capitals.
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