Login
iscover
Auction activity is set to hit its highest point since mid-June across the combined capitals.
Australia’s auction activity is set to exceed 2,000 properties, reaching its highest point since mid-June, according to Cotality’s Auction Market Preview.
In total, 2,127 homes are scheduled for auction across the nation’s capital cities for the week ending 24 August, marking a 10.7 per cent increase in activity from last week and a marginal increase from the 2,118 listed in the same week last year.
Melbourne shapes up as the busiest auction market this week, with 978 homes set to go under the hammer in the Victorian capital.
This is an increase from the 932 homes taken to auction last week, and the 938 auctions held across the city this time last year.
In Sydney, 760 auctions are scheduled, an increase from the previous week that saw 705 properties go under the hammer.
While Sydney’s market appears to be trending upwards, auction numbers across the city are lower than the 816 homes listed one year prior.
Auction activity in the smaller capital cities is expected to rise everywhere except for Perth, with Brisbane leading the way with 176 homes to go under the hammer, a significant rise from the 136 listed last week.
Adelaide is set to see 124 auctions take place, with the city seeing a significant increase from the 85 that took place last week.
Canberra will have 77 homes up for auction this week, with a 50 per cent increase from 51 last week.
Perth is set to see 10 homes taken to auction, down from 11 last week, while Tasmania has just two auctions scheduled, an increase from one held last week.
Cotality estimated that auction activity will hold reasonably firm next week, with 2,150 homes currently scheduled to go under the hammer across the combined capitals.
You are not authorised to post comments.
Comments will undergo moderation before they get published.