Auction Market Preview – 26 November 2023

⚡️ Highlights:

1. The combined capitals are set to have their second busiest auction week of the year, with 3,084 homes scheduled for auction.

2. Auction activity is rising for the third consecutive week, with a 3.1% increase compared to last week and a 27.8% increase compared to the same time last year.

3. Melbourne is expecting a quieter auction market this week, with 1,336 homes scheduled for auction, down 5.2% from last week but 32.1% higher than last year.

4. Sydney is seeing an increase in auction activity, with 1,236 homes scheduled for auction, surpassing the previous week’s volume and reaching the highest level since early April 2022.

5. Outside of Sydney and Melbourne, Brisbane is expecting the busiest auction week, followed by Adelaide and Canberra, with Perth and Tasmania having fewer auctions scheduled.

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