Last-chance auctions scheduled as selling season winds down slowly

Jonathan ChancellorDecember 1, 2011

December auctions are down on last year, but there are still 530 auctions in Sydney this weekend. And Melbourne has about 800 scheduled.

Vendors – most of whom have already bought – have weekend listings until there's no more opportunity.

Australian Property Monitors reports there will be 640 for auction on December 10 and the 400-plus on December 17.

This weekend's Sydney tally is down 22% on the 680 held on the same Saturday last year.

The Real Estate Institute of Victoria says this weekend's 800 auctions are down on the 1,071 auctions on the same weekend last year.  The REIV is expecting about 2,200 auctions between now and Christmas, increasing the total number of auctions to around 28,800 this year.

In the 10 years prior to 2011, the average number of auctions held in a year was 26,338.

In four of those years the volume was higher.

 

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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