Bumper Sydney weekend auction volume as best and biggest winter concludes
Sydney has 550 scheduled auctions this weekend - some 200 more homes than the same weekend last year.
It's the most properties to go under the hammer since the pre-Easter Super Saturday in March - and the second highest for the year, according to Australian Property Monitors.
Listings were up 44% this August compared to last August with early birds sensing the increased marketing opportunity and others just bringing their spring listing plans forward to avoid the September election dates.
And standby for the 700 plus Sydney listings on the September 14 weekend after the understandable September 7 election dip. APM now have around 280 scheduled listings which is down about 38% on same time last year.
"Sellers have rushed into the market as competition for properties among buyers has intensified," Dr Andrew Wilson, the senior economist at APM said.
There were 2096 properties listed for auction over August which is the highest monthly total since November last year, the peak spring selling month.
The next most popular region for auction is Sydney's south with 63 then the lower north shore's 51 and the city and east with 50 scheduled auctions.
Strathfield is again the most popular suburb for auctions with 10 auctions followed by Mosman's eight. Strathfield's recent sales have included $3.22 million for 97 Newtown Road which is a six bedroom Oscar Perez architecturally designed home. Last weekend a semi-complete two storey Barker Road Strathfield house just short of lockup fetched $1.96 million with the neighbouring 689 square metre vacant block selling for $1.42 million.
Dulwich Hill and Eastwood with seven home auctions scheduled this weekend.
The big Dulwich Hill listing at 13 Abergeldie Street has been sold pre-auction for $1.5 million through Luke Bellaro at McGrath Leichhardt, almost double the suburb's median auction house price of $898,000. There were $1.3 million plus hopes for the four bedroom, two bathroom 1920s house which was renovated in 2000 on its 585 square metre block. It last traded for $360,000 in 1997.
"Sydney's winter auction market has been one of the strongest for years for both buyer and seller activity," Dr Wilson said.
"The lowest interest rates in 60 years are a critical factor in generating this performance."
