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Auction volumes for the Easter long weekend are expected to decrease significantly nationwide compared to the activity during the festive weekend last year, with Sydney recording the highest numbers.
In its latest Auction Market, CoreLogic reported that auction volumes across the country are expected to significantly drop in the week ending 20 April.
Data shows that 672 homes across all capital cities are scheduled for auction this week, marking a 78.1 per cent decrease from last week’s 3,066 and 64.6 per cent lower than the 1,900 auctions held during the same period last year.
CoreLogic’s data showed that the auctions planned for the week ending 20 April will significantly decline compared to the Easter weekend last year, when 901 capital city homes were taken to auction.
Sydney is set to be the busiest auction market this week with 384 homes currently pencilled in for auction, down from the 1,282 homes taken to auction last week.
Last year’s Easter weekend in Sydney saw more action, with 414 going under the hammer.
Following closely, Melbourne expects to see 146 live sale events, significantly down from the 1,382 auctions last week and the 906 homes that went to auction this time last year.
Last year’s Easter saw slightly more homes go to auction in Melbourne, with 283 homes live sale events.
Brisbane is set to host the most auctions this week across the smaller capital cities, with 60 homes set to go under the hammer, a drop from last week’s 135 homes that went to auction.
Adelaide’s auction volume is projected to drop from last week’s 144 to 58 scheduled auctions.
Canberra’s 23 properties scheduled for auction this week represent a decrease from the 110 live sale events held last week.
Perth’s auction volume is set to drop to one auction after last week’s 11 homes that went under the hammer.
CoreLogic has predicted that the week ending 27 April will see auction volumes rise post-Easter long weekend, with around 1,050 capital city homes currently.
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