Auction volumes drop for fourth consecutive week

Auction volumes drop for fourth consecutive week
Auction volumes drop for fourth consecutive week

This weekend 1,100 properties will go to auction across the countries capital cities, the fourth consecutive weekend where volumes have dropped.

Last week there were 1,411 auctions, down from 1,557 the week prior. Before that there were 1,849 homes under the hammer.

Click here to enlarge.

 

Auction volumes drop for fourth consecutive week

Only Adelaide is set to see an increase in auction activity from last weekend.

Over the same weekend last year there were more than 500 more homes that were taken to auction across the combined markets. 

The busiest suburbs are all in Victoria, with Craigieburn leading the activity with 14 scheduled auctions.

That's followed by Preston with 12, Reservoir with 11 and Footscray and Richmond each hosting 10 auctions.

Every property up for auction in Craigieburn is a house.

One of the priciest going to auction is a designer Champion Parade home (below) which has a guide of $700,000 to $770,000.

Auction volumes drop for fourth consecutive week

Set on 620 sqm, the property has been extensively renovated since it last traded for $225,000 in 2013.

It has four bedrooms, two bathrooms, a fully equipped theatre room and an all-weather alfresco with its own kitchen.

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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Residential Auctions Auction Volumes

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