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Auction volumes set to decline

By Sebastian Holloman
28 June 2024 | 11 minute read
Sydney Brisbane Melbourne reb

CoreLogic reports that auction volumes for the week ending 30 June 2024 are expected to decrease from last week’s activity.

Auction volumes across the country are set to drop with 2,073 capital city homes scheduled for auction over the week ending 30 June 2024, a moderate decrease from the 2,150 properties that went to auction the week ending 23 June 2024.

Although Melbourne is once again set to be the busiest auction market this week with 881 homes set to go under the hammer, auction volume has dropped by 9.6 per cent from last week’s 975 auctions.

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Sydney’s auction volume also looks likely to decrease with 826 properties scheduled for auction, marking a 2.1 per cent fall from last week’s 844 auctions.

Within the smaller capital cities, Brisbane’s 150 properties set for auction mark a decrease on the 130 auctions that occurred last week. This outcome is still expected to represent the most activity across the less populous cities.

Adelaide’s 147 homes slated for auction should register as a slight improvement on last week’s 128 auctions.

Canberra’s volume should also increase from last week with 63 properties currently scheduled for auction.

Perth is set to see a decline with only four homes set to go under the hammer.

Tasmania currently has two auctions pencilled in, down from the three homes taken to auction last week.

CoreLogic reports that auction activity is expected to continue trending lower over the coming weeks, with an early view of volumes for the week ending 7 July 2024 showing just under 1,800 homes are currently scheduled for auction across the combined capitals.

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