The Saturday before Easter is usually a Super Saturday auction day with many more properties put to auction than the average weekend.
But it wasn’t really the case today, there weren’t that many more properties offered at auction
There were a number of factors involved:-
- Easter came late this year
- Victoria is on school holidays already and..
- Sellers are on strike – discretionary sellers are holding off putting their properties up for auction while home buyers are on strike
And according to Dr. Andrew Wilson Chief Economist of MyHousingMarket.com.au:
This weekend’s pre-Easter Super Saturday of auctions was an overall damp squib with auction numbers significantly lower than the record listings recorded over the same pre-holiday weekend last year.
Wary sellers continue to avoid housing markets which however is acting to provide a floor for clearance rates with buyers provided with fewer choices to select from.
Auction clearance rates in most capitals remained relatively consistent overall with results similar to those recorded for most of this year so far.
The Sydney market however bucked the trend producing its highest clearance rate for the year so far despite a surge in listings compared to the offering of the previous weekend.
With holidays now well and truly upon us and the distractions of the election campaign, listing numbers will remain subdued over the next month.
This weekend’s auction results
Our two big auction capitals – Sydney and Melbourne – both performed a little better than last week.
Domain.com.au reports the following auction results for Saturday 13th April 2019
Sydney Auction Market Rises Again Despite Pre-Holiday Surge in Listings
The nation-leading Sydney home auction market produced its highest clearance rate of the year on Saturday despite the usual surge in pre-Easter auction numbers.Sydney reported a published auction results clearance rate of 67.9% on Saturday which was well ahead of the previous weekends 62.4% and also well ahead of the 59.8% recorded over the same weekend last year.Auction numbers surged at the weekend with 756 reported listings compared to the 621 last weekend and the 609 reported over the same weekend last year.Pre-Easter Super Saturday listings were however well below last year’s record 1104 offerings reported on March 24th Sydney’s weekend median auction price of $1,192,000 was again higher than the previous weekends $1,215,000 but 1.2% lower than the $1,230,000 recorded over the same weekend last year.The Lower North regain its usual top spot for regional results with a strong 80% clearance rate.The Inner West, Northern Beaches and Upper North Shore also reported clearance rates above 70% at the weekend.
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