As the bustling spring selling season continues, the combined capital cities are getting ready for the busiest auction week since early April and the second busiest week of the year-to-date, with a whopping 2,436 homes slated to go under the hammer this week. This marks a 7.1% increase compared to the previous week, which saw 2,275 auctions, and a 10.6% uptick from last year’s 2,203 auctions during the same time period. It’s clear that this week’s auction numbers will be a great gauge for how the market is faring.
Melbourne, a consistent heavy-hitter in the auction world, is preparing to host over 1,000 auctions for the fourth week in a row, with 1,008 scheduled across the city. While the number is a slight decrease of 0.8% from the 1,016 auctions held last week, it’s right on par with the 1,008 auctions from the same week last year. This steady auction activity is a sure sign that Melbourne’s market continues to thrive.
Not to be outdone, Sydney is gearing up for its second busiest auction week of the year-to-date, trailing behind only the week ending 2nd April, which had 1,017 auctions. With 1,010 homes currently listed for auction across the city, there’s a 12.5% increase compared to last week’s 898 auctions, and an impressive 30.8% jump from the same time last year, when 772 auctions took place.
Meanwhile, the smaller capital cities aren’t slacking off either. Brisbane is set to have its busiest week since late April, with 180 homes scheduled for auction, marking a significant 36.4% increase from the previous week. Following suit are Adelaide, which is slated for 125 home auctions, and Canberra, with 104 auctions in the works. Though Perth’s nine scheduled home auctions make for a decline from last week’s 13, the other capitals more than make up for the difference. And while no auctions are scheduled for Tasmania, there’s plenty of action happening elsewhere.
Early indicators suggest that auction activity will continue to soar in the coming weeks, with the spring selling season hitting its stride. The week ending 17 September 2023 is sure to be an interesting one when it comes to the world of property auctions.
As a strong measure of the market’s current state, these high auction numbers demonstrate the excitement and fast pace typical of the spring selling season. Buyers and sellers alike should be prepared to jump into the fray and make the most of this energetic atmosphere. And with another surge in auction activity predicted for the coming weeks, it appears that this year’s spring selling season won’t be slowing down anytime soon. So, buckle up and get ready to dive into the thrilling world of property auctions – it’s a wild ride that won’t be ending anytime soon!
