Soaring Winter auction volumes as lockdown restrictions thaw

Soaring Winter auction volumes as lockdown restrictions thaw
Soaring Winter auction volumes as lockdown restrictions thaw

Winter may be setting in but lockdown restrictions are continuing to thaw, leading to a rise in auction numbers for this second weekend of June, according to CoreLogic data.

There are 1,179 capital city auctions being tracked by CoreLogic this week, increasing on the 711 auctions last week.

While volumes are expected to be the highest we’ve seen since mid-April, auction activity remains lower than what we would usually see, with 1,505 auctions held over the same week one year ago.

There are 561 Sydney homes scheduled for auction this week, up on the 398 held last week according to final figures, and higher than the 534 held one year ago.

In Melbourne, 467 auctions are scheduled across the city this week, increasing on the 195 auctions last week, however lower than volumes from the same week last year 724.

Across the smaller markets, scheduled volumes are set to remain steady across Perth, while the remaining cities are all expected to see a rise in activity over the week.

Soaring Winter auction volumes as lockdown restrictions thaw

The Ray White Surry Hills | Alexandria | Glebe | Erskineville office is heading into the weekend with eight homes going under the hammer on-site.

Examining some highlights, Director Ercan Ersan said the converted warehouse apartment at C80/240 Wyndham St, Alexandria in the Hudson has had 100 groups through and 30 contracts given out.

“It’s the epitome of luxury inner city living designed by the celebrated architects at Allen Jack+Cottier,” Mr Ersan said.

“We’re expecting between 10 and 15 registered bidders and it should break the building record.”

Another standout is 4/11-33 Maddison St (pictured in title) in Redfern with Mr Ersan saying the apartment has one of the best renovations he’s seen.

“We’ve already got five people coming to the auction and it should sell at $1.4 million,” he said.

Tags: 
Auction Volumes Lockdown

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