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Auction volumes across the capital cities have risen week-on-week, with Sydney expected to record well over a third of the total auctions.
CoreLogic’s latest Auction Market Preview shows that auction volumes across the country are expected to increase from the previous week, with 1,802 capital city homes scheduled for auction over the week ending 16 February 2025.
This activity marks a 7.9 per cent increase on the 1,670 homes taken to auction the week ending 9 February 2025, but registers 13.8 per cent lower than the 2,091 auctions held at the same period one year ago.
Sydney is set to be the busiest auction market this week with 796 auctions going under the hammer, representing a 28.2 per cent increase on the 621 homes taken to auction the previous week, and a 15.2 per cent rise on the 691 auctions held one year prior.
Melbourne’s auction volume is expected to decrease with 666 properties scheduled for auction, marking a 1.3 per cent decline from last week’s 675 homes auctioned, and a significant 33.2 per cent fall from the 997 auctions held during the same period last year.
Within the smaller capital cities, Brisbane’s 154 homes slated for auction mark a 24.9 per cent decrease on the 205 auctions that occurred last week, but still represents the most activity across the less populous cities.
Adelaide’s auction volume has risen, with the city’s 121 homes marking a 23.5 per cent increase from last week’s 98 auctions.
Canberra’s 56 properties scheduled for auction represent a 9.7 per cent decrease from the 62 auctions last week.
Eight homes are scheduled for auction in Perth, an increase from the six homes that went to auction last week.
Tasmania has one auction pencilled in, down from three auctions last week.
Looking ahead, CoreLogic reported that 2,450 homes are scheduled for auction across the combined capitals next week.
The property data company said if all of these auctions go ahead, it would mark the busiest auction week since the week ending 8 December 2024, when 2,617 homes were taken to auction.
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