Sydney and Brisbane surge ahead with auction expectations
For the third week in a row, CoreLogic is expecting more than 3,000 homes to go under the hammer.
The latest weekly auction preview from the research house has revealed that auction volumes are expected to maintain their current strength heading into the first weekend of November.
Across all Australian capital cities, 3,313 homes are set to go under the hammer, down slightly from last week’s peak of 3,546 – but far higher than the 1,757 auctions that took place over the same weekend in 2020.
Sydney is gearing up for its second-busiest weekend of the year – and its busiest since late March.
A total of 1,266 homes are up for grabs at auction this week – a rise of nearly 10 per cent on last week’s 1,151 and an almost 50 per cent rise on last year’s 851.
Melbourne’s post-lockdown boom is continuing, with 1,388 auctions scheduled for the week.
It’s the fifth consecutive week the city has reported more than 1,000 homes going under the hammer.
While it is lower than the 1,752 homes taken under the hammer over the last weekend of October, it’s still a far cry from the 611 auctions that took place this time last year.
Brisbane is also showing its might. According to CoreLogic research analyst Kaytlin Ezzy, it will be the busiest week for auctions in the Queensland capital since November 2016.
A total of 260 homes are set to go under the hammer.
Adelaide is expecting 234 auctions of its own, while Canberrans have the choice of 136 auctions on offer.
CoreLogic is anticipating 24 auctions over in Perth, while Tasmania is set to play host to five auctions of its own.