Weekend Auction Results – Slim Autumn pickings for steady auction buyers

Capital city home auction markets yet again today produced more solid, steady results overall for sellers with no sign yet of a significant easing in the level of early autumn auction clearance rates.

The Sydney property market continues to produce the highest capital city results with another solid clearance rate above 60%.

Melbourne’s real estate market resumed from last weekend’s public holiday pause with a clearance rate of 56.9% which is again similar to most Saturday results it has recorded this year so far.

Other capitals however continue to struggle to record clearance rates above 50% with the general seller malaise and sharply lower listing numbers continuing to act as a drag on all markets.

Autumn Auction Sellers Continue To Fade

Auction numbers continue to decline with wary home sellers maintaining their “wait and see approach” despite improved auction clearance rates so far this year.

Auction Insider has been tracking just under 500 homes listed for auction this Saturday in Sydney which is lower than last weekends published 530 auctions and again well below the 804 auctioned over the same weekend last year.

Although Melbourne auction numbers will predictably increase sharply this Saturday following last weekend long weekend holiday pause, activity will again also remain significantly below the levels recorded last year at the same time.

730 Melbourne homes are set to go under the hammer this weekend compared to 145 reported last weekend and well below the 1406 auctioned over the same weekend last year.

Sydney has auctioned 28.1% fewer homes this year so far compared to the same period last year with Melbourne auctions down 34.8% on the same comparisons.

Ashfield was the most popular Sydney suburb for auctions in  this Saturday followed by Randwick, Turramurra, Kingsgrove and Kingsford.

In Melbourne, Glen Waverley was the most popular auction suburb this weekend followed by Craigieburn, Yarraville, Reservoir, Brunswick and East Bentleigh.

from Property UpdateProperty Update https://propertyupdate.com.au/weekend-auction-results-slim-autumn-pickings-steady-auction-byers/