Winter auction markets heat up

Sydney recorded its third consecutive clearance rate above 80 per cent, while auction results in Melbourne remained robust.

Domain Group senior economist Dr Andrew Wilson said Sydney’s auction market continues to strengthen in the lead up to spring.

“The strong 83.4 per cent rate was the highest recorded for six months and reflects a market with high levels of competition for property,” he said.

“The Sydney auction market is on the rise with the four-weekend average clearance rising to 81.3 per cent compared to 76.2 per cent over the previous four-weekend period.”

Mr Wilson said, not surprisingly a number of the suburban regions produced “stunning” auction clearance rates at the weekend.

“The best performer was the city and the east with an extraordinary 95.1 per cent clearance rate, with only two of the 41 properties reported failing to sell,” he said.

“An encouraging result also for Sydney’s prestige market at the weekend with 14 sales reported above $2 million.”

Dr Wilson said Melbourne’s auction market consolidated last weekend’s strong result with another robust clearance rate at the weekend.

“The 75.3 per cent recorded was just below the 75.5 per cent recorded the previous weekend and just below the 77.7 per cent recorded over the same weekend last year,” he said.

“The Melbourne winter auction market is now rising towards spring with the current four-weekend average at 74.8 per cent compared to the previous four-weekend result of 72.9 per cent.

“Auction numbers in Melbourne have risen steadily over recent weekends, with this weekend seeing 647 auctions scheduled compared to the previous weekend’s 623 and the 592 listed over the same weekend last year,” he added.

Melbourne’s south east again recorded the best result of all the suburban regions at the weekend with a strong clearance rate of 82.6 per cent.

Dr Wilson said next weekend is the last Saturday auction day before spring begins, with listings set to rise significantly through to the end of the year.

Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
BLUE BAY 49.18%
Winter auction markets heat up
SPI logo