Record auction rush in last minute December offerings in Melbourne and Sydney

Confident sellers have flooded the Melbourne and Sydney auction markets this Saturday.

There are record year end weekend offerings.

Auctions are scheduled up to 5pm including Chasecote, (above) the 1907 home at Turramurra which has been listed through Chadwick Real Estate.

Nearly 1100 homes are set to go under the hammer this weekend, which is below last weekend’s 1372 auctions but well ahead of the 717 auctioned over the same weekend last year in Melbourne.

Domain says Melbourne has listed 3606 weekend auctions over December which is ahead of the 3558 listed last December.

It is the highest number of December auctions on record for the local market.

Melbourne’s western suburbs are yet again tops for auction activity this Saturday with 231 homes listed to go under the hammer.

Next highest is the north east with 178 auctions followed by the north 131, the outer east 120, the inner city 105, the inner south 96, the inner east 86 and the south east with 76 auctions listed.

The most popular suburb for auctions at the weekend will again be Glen Waverley, with 21, closely followed by Epping 20, Richmond, St Albans and Bundoora each with 17.

Mount Waverley and Richmond each with 15 and Pascoe Vale with 14 auctions listed on Saturday.

Last Saturday’s result was the highest for nearly two months and only the third time the local clearance rate has exceeded 80 percent all year, Dr Andrew Wilson, the Domain Group’s chief economist said.

Nearly 700 homes will go under the hammer in Sydney on Saturday which will be lower than last weekend’s 908 auctions but more than double the 320 auctioned over the same weekend last year.

Sydney has listed 2464 weekend auctions over December which is well ahead of the 1936 listed last December and the highest number of December auctions on record for the local market.