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Auction activity across combined capital cities is expected to increase by around 13 per cent week-on-week, according to CoreLogic’s latest Auction Market Preview.
The report showed a total of 1,571 homes are set for auction across the combined capitals in the week ending 9 February.
The numbers mark a rise from last week’s count of 1,390 homes taken to auction, yet represent a slight drop from the 1,642 auctions the same week last year.
Sydney is set to be the busiest city for auction this week with 633 auctions pencilled in, up 39.7 per cent from the previous week’s 453 homes that went under the hammer.
However, the forecast figures are slightly lower than Sydney’s 647 auctions during the same period last year.
Melbourne is also expected to see a rise in auction activity this week with 561 live sale events scheduled.
Melbourne’s activity represents a 16.1 per cent increase from last week’s 483 auctions, yet a decline from the 664 homes taken to auction this time last year.
Brisbane leads this week with the highest number of scheduled auctions at 209, up from the 162 homes that went under the hammer last week.
Adelaide expects a downturn this week with 107 homes scheduled for auction, a decrease from 150 in the prior week.
This week, Perth has seven auctions planned, a decline from the 11 auctions held last week, while Tasmania picks up with three auctions scheduled after a week of no activity.
Canberra is expected to host around 51 auctions this week, down from the 131 homes that went under the hammer last week.
Looking ahead, over 1,750 capital city homes are set for auction across all capitals next week.
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