School holidays impact otherwise strong auction weekend

Staff reporterJuly 1, 20200 min read

There are 1,115 capital city auctions being tracked by CoreLogic this week, down from 1,485 auctions last week which can be in part be attributed to school holidays.

However volumes remained higher than this time last year when just 953 homes were taken to auction. 

In Melbourne, 417 auctions are scheduled across the city this week, down from 645 auctions last week, although higher than volumes from the same week last year (388).

There are 538 Sydney homes scheduled for auction this week, down from 644 last week according to final figures, and higher than the 359 held one year ago.

Across the smaller markets, scheduled volumes are set to fall week on week across Adelaide, Brisbane, Perth and Tasmania, while a higher volume of auctions are scheduled in Canberra this week\

Despite school holidays, Ray White said their auction numbers are holding steady with 175 homes going under the hammer on Saturday.

Particularly busy is Ray White Surry Hills | Alexandria | Glebe | Erskineville where 8 auctions are set to take place. 

Associate Director Matthew Carvalho from the inner Sydney group is auctioning two of those eight with both being called by Ray White NSW CEO Jason Andrew.

First up will be Terrace 9, 269 Trafalgar St, Annandale, (pictured in title) which Mr Carvalho said has attracted both upsizers and downsizers from around Sydney.

“Feedback from buyers has been good and they’re particularly liking the size of the house and that it’s got a double garage plus an extra car space which is almost unheard of in the inner west,” Mr Carvalho said.

Later in the day will be 134 Catherine St, Leichhardt (pictured above) which is currently getting interest from first and second home buyers. Mr Carvalho said space is a big factor for these buyers and the three bedroom Leichhardt home ticks that box.

“It’s a good layout on a great size plot of land. The buyers are predominantly a little bit younger - couples or families with one child,” he said.

“They’re coming out of apartments and upsizing for more space and to get into more of a community which Leichhardt offers.”

Despite recent uncertainty, Mr Carvalho also said he is finding that good properties are still in high demand.

“Supply is still so low particularly for free standing homes but we’re finding when they are on the market, prices and demand are quite strong and will continue to be so until inventory begins to spike,” he said.

Staff reporter

Auction Volumes
Auction Market
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