Although Saturday produced the usual sharp spike in auction activity typical of the pre-Easter holiday weekend, numbers were well down on last year’s result over the same weekend.
There were 911 homes listed for auction on Saturday, which was well ahead of the previous weekend’s 592 listings, but below the all-time auction record of 1128 set over Easter Super Saturday last year.
Sharply lower auction numbers have also been a characteristic of the Sydney early autumn market this year compared to last year’s record auctions over the same period.
Inner-suburban, higher-priced regions continue to produce boom-time results, in sharp contrast to outer suburbs to the west where clearance rates remain considerably lower.
The lower north recorded another strong result at the weekend to lead the regions with a remarkable 92.3 per cent clearance rate.
Next highest was the consistently strong northern beaches, with 87.3 per cent, followed by the inner west, with 85 per cent and with the highest number of sales at 96.
The upper north shore had a clearance rate of 79.3 per cent, while the city and east dropped to 75.4 per cent this week compared to last week’s 87.7 per cent.
The south recorded a clearance rate of 71.6 per cent, Canterbury Bankstown sat at 68.9 per cent, the north west at 61.5 per cent while the west finished with a better result at the weekend at 61.3 per cent.
The Central Coast trailed at 57.9 per cent while the south west was well down at just 45.7 per cent.
The Blue Mountains had just two reported auctions, but both failed to sell under the hammer.
The most expensive property reported sold at auction at the weekend was a seven-bedroom home at 9 South Street, Strathfield that sold for $5,710,000 by Devine Real Estate.
The most affordable property reported sold at the weekend was a two-bedroom unit at 6/199 Auburn Road, Yagoona that sold for $380,000 by Ray White Bankstown.
Sydney recorded a median auction price of $1,169,500 on Saturday, which was lower than the previous weekend’s $1,230,000.
Saturday’s median remained 10.6 per cent higher than the $1,057,500 recorded over the same weekend last year.
The Sydney weekend auction market will now pause for a well-earned break for the Easter holidays following an early autumn season that has remained positive for most sellers.
Clearance rates have been relatively consistent from weekend to weekend and continue to track at the highest levels since winter last year.
Auction numbers however remain well below last year’s boom-time results and there continues a significant disparity between regional results with inner-suburban clearance rates clearly ascendant over the west.
Click here for a list of weekend auction results in Sydney.