Auction Market Preview - 10 March 2024

They state that there are 1,773 homes scheduled for auction across the combined capital cities this week, down -33.5% on last week when 2,665 auctions were held. The lower volumes are largely attributed to the Labour Day long weekend in Victoria, along with public holidays in SA, ACT and Tas this coming Monday. This time last year, 1,280 auctions were held across the combined capitals.

There are 958 auctions scheduled in Sydney, up 6.7% on last week (898), and 45.4% higher than the same week last year (659). This is set to be Sydney’s second busiest auction week of the year so far, behind the week ending 25th February (984).

In Melbourne, there are 474 homes set for auction this week, down -64.9% on last week (1,352). The drop in auction activity is largely attributed to Victoria’s Labour Day long weekend. This time last year, just 360 auctions were held across the city.

Across the smaller capitals, Brisbane is set to host the most auctions (166), up from 149 last week, followed by Adelaide (115), down from 145 last week. In Canberra, 48 auctions are set to take place this week, down from 113 last week. There are 11 auctions scheduled in Perth this week, compared to six last week, while there is one home scheduled for auction in Tasmania, compared to two last week.

The complete Auction Market Preview from Corelogic RPData for the week ending 10 March 2024 can be downloaded here.

source: Corelogic RPData