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Auction levels back up after 5-week lull

By Kyle Robbins
27 May 2022 | 9 minute read
suburb properties sydney aerial reb

After the federal election stole the spotlight last week, national auction volumes are set to rise to some of the highest levels for the year.

Following on from last week’s election-impacted numbers, our national capital cities are expecting their third-busiest auction week since the start of the year. As part of the nation’s busiest weekend since the Easter long weekend, 3,382 homes are set to go under the hammer – more than double the 1,672 auctions from the week prior. 

In keeping with  the national trends, Melbourne auction volumes have doubled, with 1,487 homes going under the hammer across the Victorian capital this week – a 108.8 per cent jump on the 712 from the previous week.

For the first time in seven weeks, auction volumes in Sydney are anticipated to surpass 1,000, with 1,233 auctions expected to occur across the harbour city this week. These figures are a 131.8 per cent increase on the previous week’s performance and a 5 per cent rise on the numbers from this time last year.

Brisbane will host the most auctions across the nation’s smaller capital cities this week. Overall, 260 homes are expected to be auctioned off in the river city over the seven-day stretch, marking its busiest auction period since the middle of December in 2021.

Just 30 auctions short of Brisbane, Adelaide’s auction activity is up 17.9 per cent from the previous week, with 230 auctions scheduled for the coming week. Meanwhile, Canberra is playing host to 147 auctions, signalling a 61.5 per cent jump on the previous week’s quantities. 

In Perth, 21 auctions are set to be held, while four will take place in Tasmania – a small showing, but still up from last week when no homes went under the hammer. 

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