Post Easter Sydney, Melbourne auction market back to strength

Post Easter Sydney, Melbourne auction market back to strength
Post Easter Sydney, Melbourne auction market back to strength

The auction market in Sydney is back to strength following the Easter holiday with 650 homes set for Saturday auction, according to Domain's Dr Andrew Wilson.

He said Sydney’s inner west will be the most popular region for auctions on Saturday with 100 followed by the south with 88, the upper north shore (80), the city and east (68), the west (61), the lower north (55), the south west (50), Canterbury Bankstown (47), the northern beaches (35), the north west (30) and the central coast with (18) auctions listed.

"Manly will host the most suburban auctions this weekend with 11 followed by Newtown and Mosman each with 10, Ashfield (8), St Ives, Eastwood and Darlinghurst each with 7 and a number of suburbs with 6 auctions listed including Revesby, Paddington Bexley and Earlwood," he said.

"Auction listings were predictably higher last weekend with 705 homes scheduled to go under the hammer compared to 25 the previous weekend.

"This weekend more than 1000 auctions are listed as the market returns in full after April’s lengthy holiday distractions.

"Melbourne’s eastern suburban regions recorded the highest clearance rates last weekend although most areas and suburbs continue to secure positive results for sellers.

"Top rate was reported by the south-east with 87.7 percent followed by the outer east 86.2 percent, the inner east 86.0 percent, the west 84.0 percent and the most sales at 84, the north-east 83.3 percent, the north 82.7 percent, the inner south 71.7 percent and the inner city with a clearance rate of 61.1 percent."

Tags: 
Residential Sale Auction Market

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