CoreLogic’s auction market preview for the week ending Dec. 2 revealed that Victoria led the auction market as many of its suburbs recorded the highest volumes so far this week.
According to report, Glen Waverley topped the list of busiest suburbs for auction, with 25 scheduled auctions. Glen Iris (18) came second and was followed by Reservoir (17), while Bentleigh East and St. Kilda each have 16 slated auctions.
Across the combined capital cities, auction activity is expected to remain relatively steady week-on-week, with a total of 2,610 homes scheduled for auction. This figure is slightly lower than last week’s 2,701 auctions.
Melbourne and Sydney, two of the country’s largest auction markets, are trending in opposite directions. It was predicted that Victoria’s capital will see a higher volume of auctions this week, with volumes hiking by 14.5% from last week. There are 1,296 homes scheduled for auction across the city, up on last week when 1,132 auctions were held.
Sydney, on the other hand, has fewer auctions scheduled this week. Only 904 homes are set to go under the hammer, after last week saw over 1,000 homes taken to auction across the city.
Perth and Tasmania are expected to hold more auctions this week, while volumes are down in Adelaide, Brisbane and Canberra.