Auction Market Preview - 2 June 2024
Just shy of 2,400 capital city homes up for auction this week
There are 2,395 capital city homes currently scheduled for auction this week, up 5.8% from last week when 2,264 auctions were held and 32.0% higher than this time last year (1,815).
Auction volumes across Melbourne are expected to hold above 1,000 for the fifth consecutive week, with 1,094 homes up for auction. This week’s expected volumes are just 0.6% higher than last week (1,087) and 48.6% higher than this time last year (736).
Sydney is set to see a sharp increase in auction volumes this week with 934 homes currently set for auction, up from 767 last week. This will be the busiest auction week since the week prior to Easter (1,199). Over the same week last year, 751 auctions were held across the city.
Across the smaller capitals, Adelaide (149), Brisbane (141) and Canberra (66) are expecting to see fewer homes taken to auction week-on-week, down from 157, 151 and 89 respectively. There are 11 auctions scheduled in Perth, up from nine last week, while there are no auctions scheduled in Tasmania.
Auction activity is expected to drop significantly next week due to the Kings Birthday long weekend in six of the eight states and territories with around 1,300 auctions currently scheduled across the combined capitals.
The complete Auction Market Preview for the week ending 2 June 2024 can be downloaded below.
