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Auction volumes continue to rise year-on-year despite a week-on-week drop in activity.
CoreLogic, soon to be rebranded to Cotality, reported in its latest Auction Market Review that auction volumes across the country are expected to drop from the previous week.
Data shows that 2,404 homes across all capital cities are scheduled for auction in the week ending 6 March.
The activity marked a 16.3 per cent decline from last week’s 2,873 auctions, but remains 21.1 per cent higher than the 1,985 auctions held during the same period last year.
Sydney is set to be the busiest auction market this week with 996 homes currently pencilled in for auction, slightly down from the 1,110 last week and the 849 auctions held in the same period last year.
Following closely, Melbourne expects to see 996 live sale events, down from the 1,364 auctions last week but up from the 812 auctions held at the same time last year.
Brisbane continues to lead the auction market among the smaller capital cities, with 179 auctions set to go under the hammer, a slow increase from the 173 auctions last week.
Adelaide’s auction volume remains steady, with 136 homes scheduled for auction week.
Canberra’s 79 properties scheduled for auction this week jump slightly from the 73 live sale events held last week.
Perth and Tasmania are set to increase by one, with 13 homes scheduled for auction in Perth and three in Tasmania.
CoreLogic predicts that the week ending 13 March will see auction volumes increase in the lead-up to Easter, with over 2,850 capital city homes expected to go under the hammer.
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