- According to CoreLogic’s predictions, the Australian real estate market is expected to see a decrease in auction activity this week, with a total of 1,487 homes scheduled for auction in the capital cities nationwide.
This marks the quietest week in 11 weeks (excluding the week of the June long weekend). The number of properties up for auction has decreased by 3.6% compared to the previous week, which is consistent with the typical trend of reduced auction activity during school holidays and other seasonal factors. CoreLogic reports that auction activity has decreased by 8.7% compared to the same period last year.
In the capital cities, Sydney is expected to be the busiest auction market this week, with 621 homes scheduled for auction. This represents an 8.1% decrease from the previous week, but a slight increase of 2.6% compared to the same period last year.
In smaller capital cities, Brisbane and Adelaide will each hold 102 auctions, representing a decrease of 22.1% and 8.9% respectively from the previous week. According to CoreLogic data, auction numbers in Brisbane have decreased by 29.2% compared to the same period last year, while Adelaide has seen a decrease of 35.0%.If you’re looking to refinance your home or need assistance from A Mortgage Broker, Speed Lending in North Sydney, now may be a good time to explore your options in this quieter market.