Auction Market Preview - 19 February 2023
Auction activity continues to ramp up with 1,886 capital city homes currently scheduled for auction this week, up 27.3% from last week (1,482).
While increasing week-on-week, this week’s scheduled auction activity is -34.9% lower than the same week last year when 2,898 homes were taken to auction across the combined capitals.
Melbourne is set to overtake Sydney as the busiest auction market this week with 799 homes scheduled for auction. This week’s scheduled auction activity is up 41.7% from last week when 564 auctions were held, although down -39.6% from this time last year (1,323).
There are 740 auctions scheduled in Sydney this week, up 23.1% from last week when 601 auctions were held, and -27.5% lower than this time last year when 1,021 homes were taken to auction across the city.
The smaller auction capitals are also set to see more homes taken to auction this week. In Brisbane, 124 homes are currently scheduled for auction this week, up 19.2% from last week (104). Adelaide is set to host 111 auctions this week, up 12.1% week-on-week (99), while in Canberra, 100 homes are scheduled for auction, holding steady week-on-week (99). There are currently 10 homes scheduled for auction across Perth, down from 13 last week, while in Tasmania, two auctions are scheduled this week.
This article was published by CoreLogic on 15th February 2023. Please refer to CorLogic / RP Data websites for the complete Auction Market Previews.
Source: CoreLogic