Sydney auction volumes have been trending higher since June
There are 1,144 homes scheduled for auction across the combined capital cities this week, a slight increase on the 1,046 auctions last week and lower than the 1,415 last year.
In Sydney, 679 auctions are scheduled across the city, up on the 668 last week and also higher than scheduled volumes from one year ago (503).
The number of Sydney auctions has been trending higher over the past three months and auction volumes have been consistently above last year’s level since the last week of June.
There are 235 Melbourne homes scheduled for auction this week, an expected rise on last week’s volumes (191), which saw 33% of auctions withdrawn from the market.
The low auction volumes aren’t surprising, considering stage four restrictions remain in place.
Across the smaller cities, scheduled volumes are set to be higher across all cities but Tasmania where no auctions are scheduled in for this week.
Ray White live listings are up nationally 11 per cent across Ray White, with a month to date clearance rate of 59.6 per cent.
Ray White offices are gearing up for a strong weekend in NSW with 60 auctions scheduled across Sydney.
In the morning, Ray White Drummoyne Agent Angela Saidi will be auctioning the sought after 2/69 Tranmere St, Drummoyne (pictured in title) unit.
The two bedroom unit has already had 90 groups through inspections and has a price guide of about $800,000. Ms Saidi said prospective buyers have been mostly made up of first home buyers along with a couple of investors.
Also in the morning, Caringbah townhouse at 1/5 Oleander Parade (pictured above) is scheduled for auction, capping off a three and a half week campaign that saw 62 groups through the property.
Ray White Caringbah Principal Wendy Samrani said with a price guide of $900,000 to $1 million the three bedroom home represents good value in the area.
“Many want to get into the area but can’t find a house in Caringbah for under $1.15 to $1.2 million - especially with stock levels so low and hardly anything similar on the market,” she added.
Ms Samrani sold a similar neighbouring townhouse in the same development six weeks ago for $907,500.
In the afternoon, 16 Clarence Road will go under the hammer to a new family through Ray White Rockdale Agent Nicholas Economos with New South Wales Chief Auctioneer Alex Pattaro calling the auction.
Ray White Surry Hills | Alexandria | Glebe | Erskineville Associate Director Matthew Carvalho will also be auctioning 127 Denison St, Camperdown later in the afternoon. The two bedroom terrace home has seen strong interest from young buyers and has a price guide of $1.1 million.