Pre-Easter listings rise in Sydney, Melbourne ahead of weekend: Andrew Wilson
A record number of auctions will be held in Sydney this weekend with pre-Easter Super Saturday showing over 1150 homes likely to be auctioned.
Domain's Andrew Wilson said Sydney sellers are rushing the market in unprecedented numbers keen to take advantage of the current strong autumn conditions.
"Over 1150 homes are likely to go under the hammer on Saturday which will be well ahead of last weekend’s 800 auctions and significantly higher than the 523 conducted over the same weekend last year," he said.
"The previous record auction day in Saturday in Sydney was the pre-Easter Super Saturday in 2015 when 1128 homes were listed.
"Although the Easter holiday is a month later compared to last year, auctions listings have continued to rise over autumn. Sydney weekend auctions are 27.7 per cent higher or 1927 more so far this year compared to the same period last year.
"The inner west will host the most number of auctions on Saturday with 163 followed by the upper north shore 161, the south 159, the city and east 134, the lower north 106, the northern beaches 94, the west 87, Canterbury Bankstown and the south west each 71, the north west 47, the central coast 31 and the Blue Mountains with 1 auction listed
"The most popular suburbs for auctions this weekend in Sydney is Mosman with 16 followed by Eastwood and Leichhardt each with 14 , Newtown 13, Ryde and Miranda each with 12 and a number of suburbs with 11 auctions listed on Saturday including Blacktown, St Ives and Chatswood.
"The usual pre-Easter rise in Melbourne auction activity this weekend will provide the strong local market with more opportunities for enthusiastic buyers.
"Over 1200 homes are scheduled to go under the hammer on Saturday which will be well ahead of the 947 auctioned last weekend and significantly higher than the 482 listed over the same weekend last year.
"Pre-Easter numbers however are well down this year with the holiday falling a month later compared to last year and with school holidays already under way.
"Despite lower pre-Easter offerings, weekend auction listings in Melbourne are 27.7 percent higher or 1927 more so far this year compared to the same period last year.
"Melbourne’s western suburbs is again top of list for auction numbers this weekend in Melbourne with 238 followed by the outer east 185, the north east 174, the inner city 154, the inner south 129, the inner east 111, the north 101 and the south east 100.
"The most popular suburb for auctions in Melbourne this weekend is Glen Waverley with 20 followed by Craigieburn and Preston each with 17, Mount Waverley with 16 and a number of suburbs with 15 auctions scheduled including Reservoir, St Kilda, Doncaster East and Mill Park."