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The number of auctions scheduled this week could lead to the third-busiest auction week of the year to date.
According to CoreLogic, 2,880 capital city homes are set to go under the hammer in the week ending 10 November 2024. That’s a marked rise from the 1,972 houses scheduled last week, and the 2,656 homes taken to auction a year ago. If all auctions successfully hit the block, it will be the third-busiest auction week of the year so far.
Melbourne is set to host 1,325 auctions this week, after last week’s drop of 474 homes taken to auction due to the Melbourne Cup Carnival. Auctions scheduled in Melbourne this week have increased from the 1,181 auctions held last year.
In Sydney this week, 1,102 auctions are scheduled to go under the hammer, rising from the 1,036 homes auctioned the week prior and the 1,020 homes that went up for auction this time last year.
Across the smaller capitals, Brisbane takes over as the lead and is set to host 117 auctions, as Adelaide is scheduled to host 159.
Canberra drops slightly from its 97 homes scheduled for auction last week, with 94 homes set to be hosted.
Perth and Tasmania increased the number of homes set to go under the hammer this week, with Perth set to have 19 homes and Tasmania scheduled to have four.
It is expected that next week’s numbers will best even this week’s rise in volume, with just under 2,950 homes currently scheduled for auction across the combined capital cities.
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