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There are only 2,088 homes currently scheduled for auction in the week ending 8 May 2022, according to the latest figures from CoreLogic.
The latest Auction Market Preview shows auction activity is down markedly for the first full week of May – a total decline of -22.6 per cent on the previous week when 2,699 homes went under the hammer.
It’s a sign the market could be changing, given the expected figures also show a decline in the same period in 2021 when 3,016 auctions took place.
Just 879 homes are up for grabs in Melbourne – a decline of 31.9 per cent from last week’s final figure of 1,290. Volumes have also taken a hit when compared to 2021 when 1,411 homes went to auction over the same period.
Sydney should see 702 auctions take place this week – a drop of 23.2 per cent from last week’s figure of 914. It’s also much lower than the 1,146 auctions that took place over the same week in 2021.
It’s a slightly different story across some of the smaller capitals, with Adelaide boasting expectations of 214 total auctions, up from 149 just one week ago, while Brisbane is preparing for 189 auctions – on par with the previous week’s 186.
Similar to Sydney and Melbourne, Canberran auction expectations are down, with just 87 auctions pencilled in. This is down from the 143 homes that were up for grabs just one week ago.
A total of 12 auctions are set to take place in Perth over the week, while five Tasmanian properties are to go under the hammer.
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