This article is from the Australian Property Journal archive
THIS weekend is gearing up to host the second busiest auction period for the year, as activity climbs for the third week in a row.
According to the latest data from CoreLogic, 3,084 homes are scheduled to go under the hammer this week, up 3.1% from last week’s 2,990 and 27.8% on this time last year’s 2,414.
Last week the combined capital cities recorded their lowest preliminary clearance rate in 32 weeks, despite being the second busiest auction week of the year.
This is set to be Sydney’s busiest auction week since early April last year, with 1,236 homes currently scheduled for auction this week, up from 1,063 in the week prior and 929 at this time last year.
At the same time, Melbourne’s is set for a quieter auction week with 1,336 homes scheduled to go under the hammer, down 5.2% from last week’s 1,410.
Activity in Melbourne is still anticipated to be 32.1% higher than the same week last year and come in as the city’s third busiest week of 2023.
Auction activity is expected a decline in Adelaide, with a drop 12.8% to 187, with Brisbane down 0.5% to 201.
Canberra is set to see a 16.5% increase for the week, with 109 homes scheduled for auction.
While in Perth just 15 homes are currently scheduled for auction, with just five homes scheduled across Tasmania.
