Research

Auction volumes are significantly higher this week with 2760 scheduled auctions across Sydney, Melbourne, Brisbane, Adelaide and Canberra.

As expected, auction volumes are significantly lower this weekend as VIC, NSW and SA head into the long weekend. In Melbourne, we will likely see more homes go under the hammer onsite based on yesterday's Victorian government announcement of further easing of COVID-19 real-estate restrictions.

Houses continue to be the driving force behind the clearance rate surge, outperforming units across every capital city. 

This Saturday is set for the second busiest auction weekend of the year but extended lockdowns could impact Melbourne.

The last time national vacancy rates were this low was in February 2020, the month before the COVID pandemic caused widespread lockdowns. This is the equal lowest national vacancy rate since Domain records began in 2017.

Melbourne was set for the second busiest Saturday of the year for the city, however a large proportion of homes set for auction are likely to be postponed, withdrawn or quickly shifted to online.

Strong conditions in the Australian housing market have resulted in more sellers lifting asking prices midway through a sales campaign. As prospective buyers have been making inquiries and attending inspections, many vendors have felt confident they could be commanding greater asking prices.

There are 2288 scheduled auctions across Sydney, Melbourne, Brisbane, Adelaide and Canberra this Saturday.

A joint research report by PEXA insights & Domain.

There are 2356 scheduled auctions across Sydney, Melbourne, Brisbane, Adelaide and Canberra this Saturday.