Mosman ranks as Sydney's busiest weekend auction suburb

Mosman ranks as Sydney's busiest weekend auction suburb
Mosman ranks as Sydney's busiest weekend auction suburb

Mosman in Sydney and Bentleigh East in Melbourne are the busiest suburbs for auctions this week, with nine auctions scheduled to go under the hammer each.

Upcoming auctions

Auction volumes are expected to fall across the combined capital cities this week with CoreLogic currently tracking 879 auctions, down from both last week (1,295) and this time last year (1,411).

Melbourne is expecting to see around 350 homes taken to auction this week, down from 535 last week and 631 last year. Sydney is also set to host a lower volume of auctions week-on- week with 343 auctions scheduled, down from 503 last week and 552 this time last year.

Click here to enlarge:

 Mosman ranks as Sydney's busiest weekend auction suburb

Source: CoreLogic

Click here to enlarge: 

Mosman ranks as Sydney's busiest weekend auction suburb

Source: CoreLogic

Across the smaller auction markets, Adelaide, Brisbane and Perth are expecting fewer auctions week-on-week.

Canberra will see a rise in auction volumes this week with 58 homes scheduled for auction, while Tasmania is expecting to host an additional auction over the week.

A two bedroom art deco apartment close to Mosman Village has been scheduled to go under the hammer on July 6.

It has been listed by Claudia Portale of McGrath Lower North Shore Mosman with a price guide of $750,000.

The 80 square metre top floor apartment at 1/482 Military Road (pictured below) comprises open living/dining area, kitchen with dishwasher, two large bedrooms, and tiled bathroom.

It's within walking distance to bars, cafes and restaurants and close to Balmoral Beach. 

Mosman ranks as Sydney's busiest weekend auction suburb

Another upcoming auction on July 6 is a new four bedroom townhouse in Bentleigh East with a price guide of $1.1 million to $1.15 million.

Kosta Mesaritis and Tina Verni of Jellis Craig Bentleigh have the listing.

The townhouse at 40A Goodrich Street (pictured below) comes with four bedrooms, open plan entertaining area, stone kitchen, and easy care gardens.

It's within close proximity to Mackie Road shops, cafes, and park. 

Mosman ranks as Sydney's busiest weekend auction suburb

Summary of Last Week’s results

Last week, 1,295 homes were taken to auction across the combined capital cities, returning a final auction clearance rate of 62.9%, the highest clearance rate recorded since April last year and the third consecutive week where the clearance rate has held above 60.0%. Over the previous week, 1,484 auctions were held and a clearance rate of 60.5% was recorded, while one year ago, 1,671 homes were taken to auction returning a clearance rate of 52.6%.

Melbourne saw 535 homes taken to auction last week, down from 635 the previous week. The final clearance rate for Melbourne was similar week-on-week with last week’s clearance rate recorded at 68.6%, compared to 68.9% over the previous week. Melbourne’s clearance rate one year ago was 57.2% across 791 auctions.

In Sydney, 503 homes went to auction across the city last week returning a final clearance rate of 67.9%, the highest clearance rate the city has seen since Easter 2018. In comparison, 558 homes were taken to auction over the previous week and the clearance rate came in at 60.9%. Over the same week last year 634 auctions were held in Sydney while the clearance rate was a lower 49.7%.

Across the smaller auction markets, Canberra was the only city to see a fall in clearance rates week-on-week.

Of the non-capital city auction markets, the Gold Coast had the highest volume of auctions (62) last week, while the Geelong region was the best performer in terms of clearance rates with 66.7% of reported auctions recording a successful result.

Click here to enlarge: 

Mosman ranks as Sydney's busiest weekend auction suburb

 

Click here to enlarge:

Mosman ranks as Sydney's busiest weekend auction suburb

Source: CoreLogic

Tags: 
Auctions Corelogic

Community Discussion

Be the first one to comment on this article
What would you like to say about this project?