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While auction volumes across the capital cities have fallen week-on-week, the Sydney market is expected to break the 1,000 mark for the first time since December last year.
CoreLogic’s latest Auction Market Preview revealed that auction volumes across the country are expected to fall from the previous week.
For the week ending 2 March 2025, CoreLogic data showed that 2,574 homes across all capital cities are scheduled for auction.
This activity marks a 6.4 per cent decrease from the 2,751 homes taken to auction the previous week ending 23 February 2025 and registers 3.4 per cent lower than the 2,665 auctions held this time last year.
Although Melbourne is set to be the busiest auction market this week, with 1,144 homes going under the hammer, auction volume has dropped 20.4 per cent from last week when 1,437 auctions were held.
This activity also represents a 15.4 per cent decline from the 1,352 auctions held in Melbourne at this time last year.
Sydney’s auction volume is expected to increase with 1,010 properties scheduled for auction, representing a 9.5 per cent increase from last week’s 922 homes auctioned and a 12.5 per cent rise on the 898 auctions held this time last year.
The forecast activity would also see Sydney’s weekly auction volumes rise above the 1,000 mark for the first time since the week ending 1 December 2024.
Within the smaller capital cities, Brisbane’s 188 homes slated for auction represent a 36.2 per cent increase from the 138 auctions last week, representing the highest activity.
Adelaide’s auction volume has risen week-on-week, with the city’s 148 homes slightly increasing from the previous 146 recorded auctions.
Canberra’s 70 properties currently scheduled for auction represent a 23.1 per cent decrease from the 91 auctions held last week.
Perth currently has 11 homes scheduled for auction, a decrease from the 16 homes that went to auction last week.
Tasmania currently has three auctions pencilled in, up from the one auction held last week.
CoreLogic forecasts another drop in auction volumes, with 1,550 homes scheduled to go under the hammer for the week ending 9 March 2025, which can be attributed to the upcoming long weekend in four of the eight states and territories.
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