Melbourne and Sydney auctions pick up in countdown to Easter super Saturday

Auction activity will pick up significantly in Melbourne this weekend and to a smaller degree in Sydney, with just two weekends to go until super Saturday on March 31.

The Real Estate Institute of Victoria says there are 700 auctions planned in Melbourne compared with just 183 last weekend, but still fewer than the 956 auctions listed for the same weekend last year, which had a clearance rate of 64%.

The highest number of auctions will be in Hawthorn, with 15 homes on offer followed by 12 each in Northcote and Richmond.

The REIV expects auction numbers to reach to 1,000 by the March 31 weekend.

“The number of homes on offer at auction so far this year is comparatively low, so the increase stock levels should be welcomed by buyers,” says the REIV.

“A review of clearance rates shows a clear regional trend emerging of the inner city, inner east, inner south and north eastern areas performing above trend.”

Australian Property Monitors says there are 466 auctions planned for Sydney this weekend compared with the 380 scheduled for last weekend. However, this is still 15% fewer than the same weekend last year. 

Strathfield is again a popular auction location, with eight listings. Abbotsford, Leichhardt and Turramurra have seven listings each. 

There are 432 auctions scheduled for the following weekend (March 24th) with a “big weekend” in store for March 31st (the week before Easter) with 732 listings.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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