Auction Figures Declining After A Steady Rise

Published by Otto Dargan on March 5, 2021

Auction volume has dipped this week following an acceleration in the previous weeks. Typically the market peaks before Easter, so it’s no surprise to see this drop-off, but given the current surge in prices, the market might behave differently in 2021.

Fewer homes are scheduled for auction this week. A total of 1,610 auctions are scheduled for auction across the combined capital cities, 35% lower than last week’s volume at 2,473, according to the latest CoreLogic Auction Market Preview for the week ending 7 March 2021.

The largest fall in auction activity has been recorded in Melbourne. In contrast, Sydney only took a slight dip.

Cities Last Week This Week
Total (all cities) 2,473 auctions 1,610 auctions ( – 34.89%)
Sydney 844 auctions 833 auctions ( – 1.3%)
Melbourne 1,299 auctions 483 auctions ( – 63%)

Data source: CoreLogic Auction Market Preview

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