End of November set for second busiest auction week of 2023

It’s the third consecutive weekly rise, according to CoreLogic, with this week showcasing a 3.1 per cent lift in activity from the week ending 19 November.

It’s also nearly 30 per cent higher (27.8 per cent) than the number of total auctions seen over the corresponding period in 2022.

Sydney is expecting a whopping 1,236 homes to go under the hammer, which is up from the 1,063 homes up for grabs last week. That means Australia’s largest state capital is expecting its biggest week of auction since early April 2022, when 1,490 homes were up for grabs.

The harbourside city’s numbers still put it behind Melbourne, despite the Victorian capital bucking the upward trend, with 1,336 homes scheduled for auction – a drop of -5.2 per cent on the previous week.

Even so, Melbourne is expecting this week to be its third busiest auction week for 2023, with auction activity 32.1 per cent higher than the same time last year, when 1,011 homes were up for grabs.

In Adelaide, a -12.8 per cent drop in activity means 163 homes are going under the hammer, while Brisbane sees auction numbers remain steady at 200.

Perhaps taking a leaf out of Sydney’s book, Canberra is expecting a 16.5 per cent rise in activity, with 127 homes being taken to auction.

In Perth, CoreLogic is expecting 19 homes to be taken under the hammer, while Tasmania is reporting three auctions as scheduled.

[Related: Migration cap will not fix housing affordability: CoreLogic]