30th November 2020: Spring Auctions Go Out With A Bang

SPRING AUCTIONS GO OUT WITH A BANG

Brought to you by Realestatebusiness.com.au - Grace Ormsby

Spring has sprung late, if the latest auction preview data is any indication, with scheduled auctions surging above 2,000 Australia-wide for the first time since April.

In this week's upcoming auction preview from CoreLogic, research analyst Jade Harling said 2,201 capital city homes are scheduled to go under the hammer in the week ending 29 November 2020.

It comes after 1,803 properties went to auction over the previous week.

Ms Harling highlighted that Melbourne is beginning to surge, with 899 homes expected to go under the hammer this week, with the biggest numbers on show since April.

It's 253 more properties than what was taken to auction over the week ending 22 November, but is still markedly lower than the 1,533 auctions held in the Victorian capital over the same period last year.

Sydney has also got a strong showing this week, with 929 homes scheduled in for auction.

Also experiencing its biggest numbers since April, it's 124 more than the auctions that took place last week, but still lower than the 1,221 auctions held over the corresponding period in 2019.

Adelaide is also experiencing a boost in expected auctions this week, after a number of auctions had to be cancelled due to the brief lockdown last weekend. It means residents of the city can expect 113 homes to go under the hammer, while Canberra is anticipating auction volumes of the same exact figure.

The last weekend of spring will see Brisbane anticipating 128 auctions, while Perth data reveals just 15 auctions are expected. Tasmania expects just four homes to go under the hammer.