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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