Auction Market Preview – 29 January 2023

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Auction markets in Australia are getting off to a slower start this year, with 708 homes in the capital set to be auctioned this week.

This week’s auction volumes are 179.8% higher than the previous week (253) and almost double the number of January 2023 auctions to date (738). January is typically the quietest time of year for auctions, with volumes historically rising towards the end of January or early February. Last year was a bit of an outlier, with strong momentum from late 2021 continuing some auction activity into January 2022. This week last year, auction activity was 64.7% higher, with 1,166 homes auctioned in the combined capitals.

Melbourne will host the most auctions this week, with 262 homes going under the hammer. Only 71 auctions were held in the city last week, while 394 homes were auctioned this time last year due to stronger sales conditions.

Auction activity over Sydney is up 267.9% this week, with 206 homes scheduled for auction. While this week’s planned volumes are in line with the number of auctions held so far in the past year (201), they are -37.8% below the 331 auctions held at this time last year.

Adelaide marks the busiest week among smaller auction capitals, with 104 homes going under the hammer this week. Although up 60.0% from last week, Adelaide’s scheduled volumes are nearly half of the 198 auctions held at this time last year. Brisbane expect 96 auctions this week, up 123.3% week over week, as the 36 homes scheduled for auction across Canberra this week Canberra’s auction will double so far. from Perth auction market remains subdued, with only three homes going under the hammer, while only one auction is scheduled Tasmania this week.

The full Auction Market Preview for the week ending January 29, 2023 can be downloaded below.

Auction Market Preview

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Kaytlin Ezzy

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As an economist, Kaytlin is a key member of the CoreLogic research team. Highly efficient and flexible, she specializes in large and customized dataset collection, data visualization and residential data reports.

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