Corelogic RP Data Pty Ltd.

09/14/2023 | News release | Distributed by Public on 09/13/2023 16:47

Auction Market Preview - 17 September 2023

The combined capitals are set to host the busiest auction week since early April and the second busiest week of the year-to-date, with 2,436 homes scheduled to go under the hammer this week.

Up 7.1% compared to last week (2,275) and 10.6% above the 2,203 auctions held last year, this week's auction numbers will provide a timely test of the market as the spring selling season continues to ramp up.

Melbourne's auction activity is set to hold above the 1,000 market for the fourth consecutive week, with 1,008 auctions currently scheduled across the city. Down slightly (-0.8%) from the 1,016 held last week, this week's auction numbers are inline with the 1,008 auctions held this time last year.

Sydney is expecting the second busiest auction week of the year-to-date, behind only the week ending 2nd April (1,017), with 1,010 homes currently scheduled for auction across the city. Up 12.5% compared to last week (898), this week's expected auction activity is 30.8% higher than this time last year when 772 auctions were held.

Across the smaller capital cities, Brisbane is set to host its busiest week since late April (203), up 36.4% compared to last week, with 180 homes currently scheduled for auction. This is followed by Adelaide, with 125 homes set for auction, and Canberra, with 104 auctions. In Perth, nine homes are currently scheduled for auction, down from 13 last week, while no auctions are scheduled in Tasmania.

Early indicators for the following week indicated a further rise in auction activity as the spring selling season ramps up.

The complete Auction Market Preview for the week ending 17 September 2023 can be downloaded below

Auction Market Preview

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As an economist, Kaytlin is a key member within CoreLogic's research team. Highly efficient and flexible, she specialises in collating large and customised data sets, data visualisation and residential data reports.

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