Just 290 weekend auctions for Sydney but inner west flames on

Jonathan ChancellorJul 5, 2013

There are 290 scheduled weekend auctions across Sydney this weekend, down from last weekend's 440, according to Australian Property Monitors.

The numbers remain higher than the 250 auctioned over the same weekend a year ago. July is the lowest month, after January, for auction activity as buyers and sellers hibernate to await the spring selling season.

The inner west flames on with 62 properties scheduled for this weekend just below last weekend's 67 auctions.

Its reflects the inner west as Sydney's auction hot spot, indicated by what APM senior economist Dr Andrew Wilson described as a "stunning 90% auction clearance rate last weekend."

Sydney's southern estate agents are scheduled to hold 35 auctions this weekend, with the city and east having 31 and then the upper north shore with 29 auctions.

Mosman with seven auctions is the busiest suburb this weekend followed by five in both Redfern and Potts Point.

"After the strongest June auction season on record in Sydney, expect buyer activity to continue to surge despite the usual prospect of lower mid-winter auction numbers," Dr Andrew Wilson said.

Last weekend's strong auction clearance rate in Sydney was 77.4% despite the school holidays and the wet weather.

"Weekend auction clearance rates in June were remarkably consistent, having averaged 75% over the five weekends," he noted.

This weekend marks the beginning of the typically quiet month of July for auction listings.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.