Spring momentum building in auction market

Auction numbers in Sydney and Melbourne are tracking upwards as spring fever continues to build.

Sydney auction numbers have increased steadily over recent weekends as the spring market energy rises.

According to Domain Group senior economist Dr Andrew Wilson, this weekend 564 auctions are scheduled, which is well up on last weekend’s 522 but below the 633 auctions conducted over the same weekend last year.

“The city and east will host the greatest number of auctions with 85, followed by the upper north shore with 83, the inner west with 82, the south with 77, the lower north shore with 61, the west with 45, the northern beaches with 37 and Canterbury Bankstown with 31 auctions scheduled,” he said.

“The most popular suburbs for auctions this weekend in Sydney are Mosman on the lower north shore and Turramurra on the upper north shore, each with nine auctions scheduled.

“Surry Hills in the city and east, Blacktown in the west, Darlinghurst in the city and east, Ryde on the upper north shore and Paddington in the city and east each have seven auctions listed this weekend,” he added.

Auction numbers in Melbourne have also risen over recent weekends as the spring heat slowly shakes off the last of the winter frost.

“This weekend 823 auctions are scheduled, which is well up on last weekend’s 715 and just below the 850 auctions conducted over the same weekend last year,” Dr Wilson said.

“The most popular region for auction listings this weekend in Melbourne is the inner city with 136, followed by the inner east and the inner south, each with 135, the west with 113, the north east with 98 and the outer east with 82 auctions scheduled.

“The most popular suburb for auction listings this weekend in metro Melbourne is Glen Iris in the inner east with 16, followed by Prahran in the inner city with 15, Coburg in the north with 14, East Malvern in the inner south, Kensington in the west and Surrey Hills in the inner east, each with 13 auctions,” he added. 

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