More than 6,000 homes are set to go under the hammer this fortnight, PropTrack data shows, with 3,157 homes auctioned this weekend and a further 3,337 homes slated for next week.
PropTrack economist Anne Flaherty said the number of homes heading to auction in 2024 has been consistently above last year’s levels. “This week will see 23% more homes auctioned compared to the same week last year, with next week up 39%,” Ms Flaherty said.
Growing expectations that interest rates could fall later this year has seen buyer demand keep pace with an increase in property listings, with auction clearance rates bouncing above levels seen during the recent spring selling season.
The latest PropTrack Listings Report showed new property listings on realestate.com.au surged 12% year-on-year in January, taking total listings to more ‘normal’ levels in some of the major capital cities.