Home auction activity resumed this weekend after last weekends pause in activity due to the Easter holiday break.
Numbers however remain subdued as holiday distractions continue to dampen seller participation in most markets Auction clearance rates in most capitals remained reasonably solid overall despite buyers also predictably side-tracked by ongoing holidays.
Clearance rate levels however reflect low auction volumes with more substantial results providing a more reliable indicator of underlying market activity to be revealed over the coming month as the last gasp of the autumn selling season.
Sydney Auction Market Remains in April Holiday Mode – For Now
The Sydney weekend home auction market remained distracted by holidays on Saturday, recording typical volatile results as a consequence of subdued listing numbers and side-tracked buyers.
Sydney reported a published auction results clearance rate of just 51.1% at the weekend which was well below the encouraging, season-high results recorded over the weekends leading up to the Easter – Anzac Day break.
A skinny 302 homes were reported listed for auction on Saturday which was well below the 670 listed over the same weekend last year Sydney recorded a holiday-impacted median weekend auction price of $1,087,500 which was well below the $1,180,000 recorded over the same weekend last year.
Low auction numbers produced typically volatile regional results at the weekend with the South top performer with a clearance rate of 87.5% at and the Inner West and City and East well below their recent strong results.
Next weekend the Sydney auction market will resume fully focussed with May results to reveal whether recent early signs of a market revival can be consolidated before the winter shutdown – despite the ongoing carnival of the federal election campaign.
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