Winter auction season in full swing post-coronavirus

Staff reporterJune 24, 20200 min read

There are 1,363 capital city auctions being tracked by CoreLogic this week, increasing on the 1,251 auctions last week.

CoreLogic data showed that this week’s volumes are expected to be higher than one year ago, with 1,295 auctions held over the same week last year.

In Melbourne, 567 auctions are scheduled across the city this week, increasing on the 558 auctions last week, and higher than volumes from the same week last year (535).

There are 617 Sydney homes scheduled for auction this week, up on the 522 held last week according to final figures, and higher than the 503 held one year ago.

Across the smaller markets, scheduled volumes are set to increase week on week across Adelaide, Brisbane and Perth, while fewer auctions are scheduled in Canberra and only 1 home is set to go to auction in Tasmania this week.

Ray White’s auction data shows that despite the tight COVID-19 restrictions, sellers still received nine per cent more than their highest offer prior by selling under the hammer.

From 1 March to today, the group conducted 2707 auctions in Australia alone, many of them were online auctions at the height of the isolation period.   

On average, the prices achieved for sellers were nine per cent more than any offers received prior to their auction. There were 3.9 average registered bidders (up 1.1 on a year ago) and 53 per cent of all stock sold under the hammer. These metrics are all considerable higher than the same time last year.

An example of an upcoming auction is 16/5 Gurrigal Street, Mosman (pictured in title).

The three bedroom, two bathroom apartment comes with a price guide of $2.3 million - $2.5 million.

Staff reporter

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