Get ready for an exciting week in the auction world, as the combined capital cities are about to witness their second busiest auction week of the year-to-date with 3,084 homes scheduled for auction. This week’s events mark a 3.1% increase from last week’s volume of auctions (2,990) and a significant 27.8% rise compared to the same time last year (2,414).
Interestingly enough, Melbourne is going against the trend, anticipating a slightly quieter week with 1,336 homes listed for auction. Although this is a 5.2% decrease from last week’s 1,410 auctions, it is still considered to be Melbourne’s third busiest week of the year, with a 32.1% increase from this time last year (1,011).
In contrast, Sydney’s auction market shows great promise, boasting a whopping 1,236 homes currently scheduled for auction, up from 1,063 last week and 929 this time in the previous year. Surpassing the week ending on October 29th (1,071), this week is set to be the city’s busiest since early April 2022 (1,490).
Taking a closer look at the smaller capital cities, auction activity is expected to drop in Adelaide (-12.8%), remain relatively stable in Brisbane (-0.5%), and jump up in Canberra (16.5%). Brisbane takes the lead outside of Sydney and Melbourne, with 200 homes scheduled for auction, closely followed by Adelaide (163) and Canberra (127). In Perth, 19 houses will go under the hammer this week, while only a meager three auctions are scheduled in Tasmania.
From these numbers, it’s clear that the auction market remains strong in most cities, with many showing impressive growth compared to last year. Buyers and sellers alike should be prepared for a thrilling week ahead, as competition remains fierce and opportunities abound for all parties involved.
In a nutshell, the auction market is positively bustling, with both large and smaller capitals showing significant activity. While Melbourne takes a slight step back, Sydney powers ahead as the busiest city for auctions this week. For all those interested in the ever-changing auction landscape, buckle up and brace yourselves for an action-packed week of intriguing properties and new opportunities.
For those wanting a comprehensive overview of the week’s events, be sure to check out the complete Auction Market Preview for the week ending on November 26th, 2023, available for download below. With detailed information on auction trends and developments, it’s the perfect resource for anyone looking to stay informed on what’s happening in this dynamic industry.
As we look forward to an energetic week of auctions across the combined capitals, it’s essential to stay informed on the latest trends, statistics, and updates. Whether you’re a buyer, seller, or simply a casual observer, the auction market is a fascinating and ever-changing world that never fails to excite and engage those who dive into its vibrant depths.
