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CoreLogic reports that auction volumes across the states and territories have started to slow as the year comes to an end.
Auction volumes across the country are anticipated to fall week-on-week, with 2,492 capital city homes scheduled for auction over the week ending 8 December 2024.
It’s a measurable decline from the 2,881 homes that went to auction the week ending 1 December 2024, and the 3,042 auctions held this time last year.
Although Melbourne is once again set to be the busiest auction market this week with 1,088 homes set to go under the hammer, auction volume has dropped from 1,390 auctions the week prior, and 1,415 homes auctioned off this time last year in the city.
Sydney’s auction volume is also expected to decrease with 972 properties scheduled for auction, a moderate decline from last week’s 1,031 homes auctioned, and the 1,072 auctions held during the same period last year.
Within the smaller capital cities, Brisbane’s 193 auctions slated for auction mark a slight increase on the 175 auctions that occurred last week, and also represents the most activity across the less populous cities.
Adelaide’s auction volume has fallen with the city’s 150 auctions decreasing from the 169 homes that went under the hammer last week.
Canberra’s 72 properties currently scheduled for auction mark a decrease on the 99 auctions that occurred last week.
Perth’s auction volume is set for a decline with only 14 homes set to go under the hammer, a decrease from last week’s 16 auctions.
Tasmania currently has three auctions pencilled in, marking an increase from the one home taken to auction last week.
Looking ahead, CoreLogic reported that auction activity is beginning to cool as we approach the end of the year, with just under 2,150 capital city homes set for auction across the combined capital cities next week.
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