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Melbourne auction activity creeps upward

15 October 2020 Grace Ormsby
Melbourne auction activity creeps upward

Melbourne’s auction market is showing signs of life, with 192 properties set to go under the hammer this weekend.  

It’s despite on-site auctions in the Victorian capital not set to recommence until 26 October.

CoreLogic said the figure of 192 properties is over three times the amount that took place last week, when just 59 homes went to auction.

The city’s COVID-19 restrictions are still wreaking havoc on the spring selling season, with volumes remaining “significantly lower than one year ago”.

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CoreLogic research analyst Jade Harling noted that over the same week last year, 915 Melbourne properties went under the hammer.

It’s a different story in Sydney, where more than half of all expected auction activity will take place this week.

Ms Harling said the harbourside city would be home to 726 auctions over the week, which is 25 fewer than the 751 reported last week, but on par with the same time last year, when 727 properties were listed.

Elsewhere, Adelaide and Brisbane both have 79 auctions pencilled in over the week, and Canberra is hosting 62.

Perth is expecting 23 auctions, while Tasmania will see just two properties taking bids.

Melbourne auction activity creeps upward
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