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Following on from last week’s tally of 1,689, national auction levels are set to rise by 9.7 per cent this week.
After a spell of declining inventory levels, 1,853 homes are set to go under the hammer across the country this week, representing the second week in a row where volumes have risen. These levels are also symbolic of a 7.2 per cent jump in volume from the same time last year (1,728).
All major capitals are predicting a jump in auctions conducted this coming week, with just three — Melbourne, Perth and Tasmania — not expecting an increase on the levels seen during the same week of 2021.
Melbourne’s 704 auctions are not enough to elevate it as the busiest capital for the third week in a row; however, it is still a positive sign as it represents a 4.3 per cent week-on-week increase.
The title of the capital hosting the most auctions this week is bestowed upon Sydney, with the NSW capital scheduled to see 721 auctions this coming week. This is a 13 per cent increase on the previous week’s 638 auctions and a 23.2 per cent jump from the same time last year.
Throughout the smaller capital cities, auction activity is up 13.8 per cent on the previous week and 14.4 per cent from this time last year. Brisbane, which is set to host 180 auctions, leads the charge as the busiest of the smaller capitals this week — the second week running that it has claimed the top spot.
Adelaide trails Brisbane, with the South Australian capital expecting 136 homes to go under the hammer throughout the course of the week, while Canberra’s numbers fall just short of the 100-auction mark, with 98 expected.
Perth is set to host 14 auctions this week, while Tasmania has none scheduled.
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