Auction Market Preview - 21 April 2024
Capital city auction activity eases after a post-Easter bounceback
After recording a post-Easter bounce back in auction numbers over the past two weeks, the combined capitals are set to see auction activity ease this week, with 1,896 homes currently scheduled to go under the hammer. This week's scheduled auctions are down -4.1% from the 1,978 auctions held last week but are 31.7% higher than this time last year when the ANZAC day long weekend saw just 1,440 homes auctioned.
Melbourne's weekly auction numbers are set to fall slightly (-1.3%), with 880 auctions currently scheduled across the city, down from the 892 held last week. Compared to this time last year (629), this week's scheduled activity is 39.9% higher.
Sydney is expecting 627 auctions this week, down -23.6% from the 821 held the previous week. This week last year, Sydney was host to 574 auctions.
Across the smaller capitals, Brisbane is set to host the most auctions (179), with auction activity rising 73.8% week-on-week. Adelaide is expecting auction numbers to more than double (103.9%), with 157 homes scheduled to go under the hammer, while Canberra is set to host just 44 auctions this week, down -42.9%. There are seven homes set for auction in Perth, up from six last week, while Tasmania's weekly auction count is set to hold steady with two auctions scheduled.
An early view of next week's auction volumes shows just over 1,950 capital city homes are currently scheduled for auction.
The complete Auction Market Preview for the week ending 21 April 2024 can be downloaded below.
