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Auction volumes reduce week-on-week

By Sebastian Holloman
05 July 2024 | 11 minute read
melbourne sydney adelaide brisbane canberra split reb m3xnsb

CoreLogic reports that auction volumes for the week ending 7 July 2024 are expected to decrease from last week’s activity.

Auction volumes across the country are set to drop with 1,790 capital city homes scheduled for auction over the week ending 7 July 2024, a sizeable decrease from the 2,030 properties that went to auction the week ending 30 June 2024.

According to CoreLogic, Melbourne’s auction volume will measurably decrease, with 673 properties scheduled for auction, marking a 24 per cent fall from last week’s 886 auctions.

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Sydney is set to be the busiest auction market this week with 803 homes set to go under the hammer, the city’s auction volume rising by 4.8 per cent from last week’s 766 auctions.

Within the smaller capital cities, Brisbane’s 119 homes slated for auction mark a moderate decrease from the 159 properties auctioned off last week.

Adelaide’s auction volume has stayed relatively consistent with the city’s 143 auctions falling from 147 auctions the week prior. This level of activity is still anticipated to represent the most activity across the less populous cities.

Canberra’s 43 properties currently scheduled for auction are expected to mark a week-on-week decrease from the 65 auctions held the week prior.

Perth’s auction volume is set to buck the trend with this week’s nine homes slated for auction, marking an increase from last week’s five auctions.

Tasmania currently has no homes scheduled for auction.

Looking ahead, CoreLogic has stated that the “winter slowdown is underway”, with an early view of volumes for the week ending 14 July 2024 showing that under 1,500 homes are currently scheduled for auction across the combined capitals.

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