Mt Waverley and Leichhardt head the auction weekend activity in Melbourne and Sydney

Mt Waverley and Leichhardt head the auction weekend activity in Melbourne and Sydney
Mt Waverley and Leichhardt head the auction weekend activity in Melbourne and Sydney

The REIV is expecting about 1,630 auctions in 374 Melbourne suburbs this week.

The top auction locations this weekend are Mount Waverley (26 auctions),  Reservoir (25 auctions),  and Richmond (25 auctions).

A number of areas have performed well this year in Melbourne’s east, REIV chief Enzo Raimondo said. About $500 million worth of properties has been sold at auction in each of the top three suburbs - Balwyn North, Kew and Camberwell.

For Sydney, Dr Andrew Wilson at APM said auction numbers will be low in Sydney this weekend as the local market winds down before the Christmas break.

Sydney will host a little more than 700 auctions on Saturday compared to last weekend’s 885, well below the 998 listed over the same weekend last year. 

December auction activity in Sydney will be well below last year’s record levels with 500 fewer homes set to go under the hammer over the month. 

Sydney’s south will host the most auctions this weekend with 105 followed by the inner west 101, the upper north shore 81, the city and east 73, the south-west 66, the northern beaches 63, the west 58, Canterbury Bankstown 54, the lower north 50, the north-west 36, the Central Coast 25 and the Blue Mountains with one auction scheduled this weekend.

Leichhardt, Yagoona and Cremorne are the most popular suburbs in Sydney this weekend for auctions, each with nine, followed by Auburn, St Ives and Dee Why, each with eight auctions scheduled.

 

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Tags: 
Auctions Property market

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