Melbourne auctions slow due to Grand Final
The AFL grand final saw auctions drop in Melbourne but Sydney recorded the busiest week since last year.
In Melbourne only 103 homes were taken to auction on Saturday, down from 1020 the previous weekend, according to data firm CoreLogic.
"Melbourne takes their sport and their public holidays pretty seriously and that shows in the results," CoreLogic analyst Kevin Brogan said.
But it had no impact on the market in Sydney, despite a NSW team featuring in the grand final, Mr Brogan said.
The results in Sydney showed the first significant jump in demand since last year, he said.
Preliminary clearance results of 77.7 per cent suggested there was still significant demand in the market, Mr Brogan told AAP.
However there would be a quieter market in Sydney next weekend with only 297 homes up for auction because the NRL grand final is on.
"It's by no stretch of the imagination busy but it won't come to a complete halt," the analyst said.
The best performing markets across small capital cities were in Adelaide, which had a 62.2 per cent of auctions recording a successful result followed by Canberra, with 58.5 per cent preliminary auction clearance rate.
"It's a very steady market and it was a similar result to this time last year," Mr Brogan said.
There were also reasonable results from regional markets including the Hunter and Wollongong.
Back to Breaking News
Print this page