Sydney's auction cooling, Melbourne's super Saturday listings smallest since 2012

Sydney's auction cooling, Melbourne's super Saturday listings smallest since 2012
Sydney's auction cooling, Melbourne's super Saturday listings smallest since 2012

Auctions in Sydney are expected to cool this weekend along with Melbourne, however Melbourne's listings could still make for one of the biggest state auction weekends so far this year.

Listings slated to go under the hammer in Sydney are around 600, down from last week's 673 with the inner west the busiest region with 95 auctions. Some 796 auctions were held over the same weekend last year.

In Melbourne, the super Saturday weekend before Derby Day, hosts some 1190 auctions this Saturday but that figure is 20 percent down on the same weekend last year. This year is the smallest for a super Saturday since 2012, according to Domain Group.

In Sydney, homebuyers in continue to be constrained for choice compared with the record offerings auctioned over spring last year according to Andrew Wilson from the Domain Group.

"The inner west continues its reign as Sydney’s most popular region for Saturday auctions this weekend with 95 listings. Next highest is the upper north shore with 84, followed by the city and east 77, the south 74, the lower north 59, the south-west, west and north-west each with 42, the northern beaches 41, Canterbury Bankstown 37, the central coast 18 and the Blue Mountains with just one auction scheduled this weekend," he said.

"Randwick, Lane Cove North, Epping and Carlingford lead the pack as the most popular auction suburbs in Sydney this weekend. Next highest is Drummoyne with nine, followed by Baulkham Hills eight and a number of suburbs with seven auctions scheduled, including Lane Cove, Maroubra, Killara, Wahroonga, Strathfield, Stanmore and Marrickville.

"The Sydney weekend auction market recaptured its boom-time vibe last weekend with the clearance rate moving back into the 80s in a spring market that continues to blossom."

Tags: 
Auctions Residential Market

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