Subdued auction activity as AFL and NRL Grand Finals take the spotlight

Subdued auction activity as AFL and NRL Grand Finals take the spotlight
Subdued auction activity as AFL and NRL Grand Finals take the spotlight

With such low activity in Victoria this week, the busiest suburbs for auctions are for the first time in a while NSW, with Mosman topping the list with 19 scheduled auctions over the week, according to CoreLogic Data.

This is followed by Randwick (13), Bellevue Hill (11) and Port Macquarie (10).

The combined capital cities are expecting 65 per cent fewer homes taken to market this week, with half the nation host to an upcoming public holiday, combined with both the NRL and AFL grand finals being held over the weekend, it looks to be a quiet week for the auction markets.

Subdued auction activity as AFL and NRL Grand Finals take the spotlight

There are 846 capital city auctions currently being tracked by CoreLogic this week, down from the 2,404 held last week and lower than the 969 auctions held over the same week last year. Sydney is set to be the busiest auction market this week, with 586 homes scheduled to go under the hammer, down on the 851 auctions held as at final results last week, and only slightly lower than the 607 held one year ago.

The most notable decrease in activity will be in Melbourne, where a very subdued 64 auctions are scheduled this week; a 94.5 per cent drop in volumes from last week’s 1,161 auctions held. The lower activity this week is not unusual, we historically see activity plummet over what is the grand final weekend each year. Over the same week last year 122 auctions took place across the city.

Brisbane is expected to be the second busiest capital city this week, with 80 scheduled auctions, however this is lower than last week’s 124 auctions.

The remaining capital cities are all expected to see a lower volume of auctions week-on-week, with the exception of Tasmania where activity will remain steady.

Indicative of the relatively busy weekend in Mosman is 207 Raglan Street (pictured above).

The three bedroom two bathroom home is set on 461 sqm.

The change in median prices in Mosman over the past five years is 82% according to CoreLogic.

Subdued auction activity as AFL and NRL Grand Finals take the spotlight

Another home going to auction this weekend is 35 Shadforth Street, Mosman (pictured above).

The five bedroom two bathroom home is marketed as "a house of immense charm and casual elegance."

The 500 sqm holding was built in 1915 and last sold for for $2.15 million in early 2009.

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Auctions Corelogic

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