Busiest December ever for Sydney auctions

High volumes continue in the Sydney weekend auction market.

This Saturday 992 auctions are scheduled which is just below the 995 December Saturday record set last year on 14 December.

Sydney will also host around 1,000 auctions next weekend when the December auctions record clearly will be broken, according to Australian Property Monitors.

The upper north shore will again host the most number of auctions this weekend with 146 closely followed by the inner west with 144, the south 145, the city and east 129, the lower north 99, the west 88, Canterbury Bankstown 65 and the northern beaches with 57 auctions scheduled.

The most popular suburb for auctions this weekend in Sydney is Mosman on the lower north shore with 20, followed by Carlingford in the north west and Eastwood on the upper north shore each with 12, Hurstville in the south with 11, Drummoyne in the inner west with 10 and a number of suburbs with 9 auctions scheduled including St Ives on the upper north shore, Blacktown in the west and Castle Hill in the north west.

"Sydney’s weekend auction market has tracked backwards over the past month with falling clearance rates reflecting supply catching up with demand," APM senior economist Andrew Wilson said.

"The past three weekends have recorded consecutive clearance rates below 75% for the first time since March 2013," he noted.

Sydney commenced the spring selling season this year with nine consecutive clearance rates above 80%.

"The current four-weekend average clearance rate has fallen below 75% to 74.5% which is well down on the 80.4% average recorded over the previous four-weekend period," he said.

Last weekend Sydney broke the record for the most number of homes auctioned on a Spring Saturday with 1058 listings, just below the all-time Saturday auction record of 1,111 set on the pre-Easter Saturday earlier this year.