This week is set to be the busiest auction week since the pre-Easter period according to CoreLogic data, with a total of 2,454 capital city homes scheduled for auction. This represents a 16.2% increase from last week’s 2,112 auctions and a 6.1% rise compared to the same period last year, when 2,314 homes were on the block.
Melbourne will see the highest number of auctions, with 1,127 properties scheduled, marking a 15.7% increase from last week’s 974 and a 14.8% rise from the 982 auctions held at this time last year. If all these auctions proceed, it will be Melbourne’s busiest week since just before Easter (1,760 auctions) and the fifth busiest of the year so far.
Sydney follows closely with 918 auctions planned, up 18.3% from the previous week’s 776. Last year, 927 auctions took place in Sydney during this period. Should all scheduled auctions occur, this week will be Sydney’s busiest since the Easter period (1,199 auctions) and the third busiest of the year.
Among the smaller capitals, Brisbane is set to lead with 172 auctions, up from 149 the previous week. Adelaide will have 150 auctions, a slight increase from last week’s 148. Canberra is preparing for 68 auctions, up from 49 last week. Perth will see 16 auctions, compared to 13 last week, and Tasmania will have three auctions scheduled.
Looking ahead, auction activity is expected to rise further next week, with approximately 2,800 homes scheduled for auction across the capital cities. However, a temporary dip in auction volumes is anticipated the following week due to the AFL Grand Final long weekend in Victoria, with around 1,750 auctions projected across the combined capitals.