This week, combined capital cities noted a steady improvement with 3,629 homes currently scheduled for auction, up from 3,019 last week – with smaller capital cities posting especially impressive figures, according to the latest figures from CoreLogic.
Auction volumes have only risen above 3,500 two other times since 2018 – once in the week ending March 25, 2018 and the other in the week ending March 28, 2021 – with both leading up to Easter.
Both Melbourne and Sydney are experiencing the second-busiest auction week this entire year. Melbourne will host 1,783 auctions this week, up from 1,467 last week. On the other hand, Sydney is set to see 1,202 auctions this week, up from 974 auctions last week.
Across smaller markets, Brisbane, Adelaide and Canberra posted impressive results.
Brisbane will see 248 auctions this week – the highest volume Brisbane has recorded since the week ending November 20, 2016, with 262 auctions held. There are also 235 auctions scheduled in Adelaide – the busiest it has been since records began in 2008. Meanwhile, Canberra topped the record set in November 2018 with 141 auctions this week.
Perth is the only capital city seeing a reduction in volume, from 23 last week to 18 this week.
The bar graph below recaps last week’s auction market performance and its final clearance rates.
