Melbourne and Sydney ready for spring's only super Saturday

Jonathan ChancellorDecember 8, 2020

Its spring’s only super Saturday this weekend, with close to 1,000 auctions in Melbourne and 650 in Sydney.

 

It looked like many vendors had been frightened off by the low 50% auction clearance rates and bearish headlines, and as a result that the benchmark would go wanting in 2011.

The Sydney total will be the seventh busiest weekend on record, according to Clinton McNabb at Australian Property Monitors.

Sydney's record 779-auction weekend was in November 2010, the biggest auction day in the state's history.

There are about 1,000 Melbourne auctions scheduled, according to Robert Larocca at the Real Estate Institute of Victoria.

It’s well short of Melbourne's biggest auction day, with a record 1,400 properties, which was in March 2008.

Melbourne’s last 1,000-plus flurry was the December 12 weekend last year, with 1,235 auctions and a clearance rate of 57%.

 

 

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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