October long weekend sees subdued auction listings

Staff reporterSeptember 30, 20200 min read

With much the nation having the long weekend public holiday, auction activity across the combined capital cities is set to be subdued this weekend. 

Amid the limited listings, some agents succeeded in selling before auction, including 112 Riverview Street, Riverview.

Belle Property’s Simon Harrison sold the property, which last traded in 2005 for $580,000.

There are 719 capital city homes scheduled for auction this week, according to CoreLogic, down on the 1,082 auctions held last week and lower than the 1,324 last year.

Across the individual cities, scheduled volumes are set to be lower over the week across all but Perth and Melbourne. However, for both cities the rise is across already extremely low volumes.

Sydney makes up more than half of the overall scheduled auction volumes, with 473 homes scheduled, off the back the busiest week the city had seen since early April last week (812).

Melbourne volumes are higher over the week but the city continues to see some of the lowest levels of activity recorded. There are 77 Melbourne homes scheduled for auction, up from 40 last week.

According to Ray White, the Melbourne property deep freeze is over, with numbers set to soar in the coming weeks.

News of eased restrictions has already inspired buyers to list their properties with already 26 Melbourne Ray White auctions scheduled for this week, compared to last week’s four.

The national Ray White Group recorded a 70 per cent Sydney clearance rate last weekend, one of the highest in six months.

An offering in East Ryde, marketed by Ray White’s Barrie Brown, is expected to do well this weekend.

Situated at 2 Rodney St, the three-bedroom home is listed with a price guide sitting at $1.6 million.

"There have mainly been young couples coming to inspections which fits the suburb’s core demographic,” Mr Brown said.

In Queensland near beachside homes are listed for auction this weekend.

A four-bedroom, four-bathroom Mermaid Beach residence.

The tri-level home, located at 34 Dudley Street, was designed by architect John Campbell and features floor to ceiling windows, an alfresco area and light-filled interiors.

Over the same week one year ago, 1,324 homes were taken to auction across the combined capital cities returning a final auction clearance rate of 67.6 per cent, according to CoreLogic. 

In Sydney last year, just 317 homes went to auction across the city on the week of the long weekend.

In comparison, 950 homes were taken to auction over the previous week.

Staff reporter

Tags:
Auction Volume
Auction Market Activity
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