Auction volumes set to surge past 3,000 for the second time this year

There are 3,190 capital city homes scheduled for auction this week, compared to 2,541 last week and 3,381 one year ago. This marks the second busiest auction week of the year, behind the week leading up to Easter (3,519).

Melbourne is set to host more than half of this week’s capital city auctions, with 1,635 homes going under the hammer across the city, the second busiest auction week of the year. The previous week saw 1,098 homes taken to auction, while this time last year, 1,725 auctions were held.

There are 1,053 auctions scheduled in Sydney this week, compared to 974 last week and 1,071 this time last year.

Across the smaller capitals, Adelaide is set to host the most auctions (207), followed by Brisbane (197), Canberra (82) and Perth (15). There is just one auction scheduled in Tasmania this week.

Next week will see capital city auction volumes temporarily drop, with around 2,100 homes currently scheduled for auction. The lower volume can be attributed to the Melbourne Cup Carnival which kicks off on Saturday 2nd November, with fewer than 500 homes set for auction across the city (486).

The complete Auction Market Preview for the week ending 27 October 2024 can be downloaded below.

Auction Market Preview

Source:  Corelogic RPData