The suburbs you’re most likely to be bidding in

By Staff Reporter

The locations with the highest proportion of auction listings have been revealed by new data, with suburbs in Sydney and Melbourne dominating the list.

Nine of the 10 suburbs with the highest proportion of auction listings are in Sydney, according to CoreLogic RP Data.

Queens Park, in Sydney’s east, had the highest proportion of house auction listings in Australia over the last financial year.

Of the 60 houses listed for sale, 59 were listed for auction – a figure of 98.3 per cent.

The beachside suburb of Clovelly was second on the list – 47 of 49 listings, or 95.9 per cent, were listed for sale by auction.

Malabar, 12 kilometres south east of Sydney’s CBD, had the third highest number of auction listings for houses, with 22 of the 23 houses listed for sale, or 95.7 per cent, listed for auction.

The only suburb outside of Sydney to feature in the top 10 list was Melbourne’s Clifton Hill, where 78 out of 84 houses listed for sale were up for auction.

The results were more varied for unit figures: with Melbourne home to four of the 10 suburbs with the highest proportion of auction sales, including the first two suburbs on the list.

Kew East was home to the highest proportion of unit auction sales, with 33 of the 34 (97.1 per cent) total listings designated for auction.

In Carlton North 21 of the 23 (91.3 per cent) unit listings were up for auction, making it the suburb with the second highest proportion of auction listings.

Sydney’s Bronte was third on the list, with 34 of 38 total sales designated as auction listings.

According to CoreLogic RP Data’s research director Tim Lawless, the prevalence of Sydney and Melbourne suburbs in the list are indicative of the strong market conditions in those cities.

“While housing market conditions remain strong, particularly in Sydney and Melbourne, it is likely that auctions will continue to be a popular way of selling a residential property. When market demand is high and buyers are highly competitive, the auction process is likely to provide the best possible price on a property transaction.

“The opposite is true when housing market conditions are weak; auctions aren't as popular due to fact that there is less urgency among buyers and the competitive bidding environment isn't likely to be as conducive to finding the best possible price on a home,” he said.

Top 10 suburbs for highest proportion of auction listings (houses):

1. Queens Park, Sydney – 98.9 per cent
2. Clovelly, Sydney – 95.9 per cent
3. Malabar, Sydney – 95.7 per cent
4. North Wahroonga, Sydney – 95.5 per cent
5. Alexandria, Sydney – 95.0 per cent
6. West Pymble, Sydney – 93.2 per cent
7. Bexley North, Sydney – 92.9 per cen t
8. Clifton Hill, Melbourne - 92.9 per cent
9. Curl Curl, Sydney – 92.6 per cent
10. Ashbury, Sydney – 91.2 per cent

Top 10 suburbs for highest proportion of auction listings (units):

1. Kew East, Melbourne – 97.1 per cent
2. Carlton North, Melbourne – 91.3 per cent
3. Bronte, Sydney – 89.5 per cent
4. Dolls Point, Sydney – 88.0 per cent
5. Bondi Beach, Sydney – 87.1 per cent
6. Bellevue Hill, Sydney – 86.5 per cent
7. Balaclava, Melbourne - 86.4 per cent
8. Surrey Hills, Melbourne - 86.2 per cent
9. Centennial Park, Sydney – 85.4 per cent
10. Stanmore, Sydney – 85.4 per cent

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