The number of properties for auction this week has dropped off
THE number of properties for auction across the country has dropped off, although it is still higher than this time last year.
NEW South Wales regional town Dubbo has more auctions scheduled this week than any other town or suburb in Australia.
The latest figures from RP Data reveal there are 23 auctions planned.
In all 2216 auctions are scheduled across Australia this week with 1787 of those to be in capital cities.
Robert Larocca of RP Data says volumes are down in the major auction markets this week, but compared with the same time last year volumes are up by 8 per cent.
In Melbourne there are 834 auctions scheduled compared to 1016 last week.
Last week’s clearance rate was the strongest Melbourne had experienced in the past three months.
In Sydney there are 688 auctions expected compared to 798 last week.
Brisbane has 123 expected auctions following 132 last week while Adelaide has 65 expected auctions compared to 74 last week.
Canberra has 33 scheduled auctions, Perth has 36 and there are 13 in Tasmania.
The drop off in Melbourne means that market will have one of its quietest weekends, except for public holiday weekends, for some time.
Last week was the eleventh time this year that there were more than 1000 auctions in a week in Melbourne.
Mr Larocca says the coming weeks may be hinting that the Melbourne markets auction numbers will finally cool, in line with the traditional winter sales period.
This weekend Sam Rigopoulos, from Hocking Stuart in Northcote, is taking 45 Andrew St under the hammer on Saturday.
He says with up to seven bidders expected the property may over shoot expectations.
“$1.3 to $1.4 million is where we think it will sell at, and I think it may over shoot that,” he says.
“The buyers in Northcote are always looking for something like this — it typifies the ideal family property in Northcote and it’s even brought out the more passive buyers.”
In New South Wales a home at Danbury Close, Marsfield will be auctioned at 11am on Saturday.
It has a price guide of more than $1.2 million and is being marketed through NNW Property Epping.
The five-bedroom home has a formal loungeroom and self-contained accommodation at the rear of the property.
There are views of the nearby park and tennis courts from the upper storey of the home.
On the Gold Coast a home at 32 Cocos Cres, Broadbeach Waters will be auctioned at 2.30pm on Saturday.
The five-bedroom home is being marketed through Harcourts Coastal Luxury Property.
The waterfront property is on 1126sq m of land with 33.8 metres of water frontage.
There is a poolside alfresco dining area.
In Brisbane at home at 7 Villa St, Annerley will be auctioned at 12 noon Saturday.
The four-bedroom Queenslander is being marketed through Space Property Agents.
It has been extensively refurbished, has high ceilings, a cast-iron fireplace fitted with gas log heater and formal and informal living rooms.
There is a large rear deck which has views of the city.