Auction Market Preview - 5 February 2023

With 1,352 capital city homes set to go under the hammer, this week's auction activity is 90.4% higher than last week, when 710 auctions were held. Despite the week-on-week increase, this week's expected auction numbers are -24.0% below the auction activity recorded this time last year when momentum from the previous year's record-breaking auction numbers saw 1,779 homes auctioned.

Sydney is set to host the most auctions, making up 33.4% of this week's auction activity. Across the city, 451 homes are scheduled for auction, more than double the 202 auctions held last week. This week's scheduled auction numbers are -24.8% below the 600 auctions recorded this time last year.

Following Sydney, Melbourne is scheduled to host 31.5% of this week's auctions, with 426 homes expected to go under the hammer. The previous week saw 267 auctions held across the city, while this time last year 582 homes went under the hammer.

With auction volumes across the larger capitals still warming up, the smaller auction capitals are set to make up a larger portion of capital city auction activity than normal, with 475 auctions scheduled this week. Across Brisbane, 179 homes are scheduled for auction this week, up 84.5% from the 97 held last week. Canberra is expecting its weekly auction number to more than triple, with 144 homes set to go under the hammer, while Adelaide is set to host 139 auctions this week, up 33.7% week-on-week. In Perth, 12 homes are scheduled to go under the hammer this week, while just one auction is scheduled in Tasmania.

The complete Auction Market Preview for the week ending 05 February 2023 can be downloaded below.

Auction Market Preview

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