01 Nov Cup fever strikes numbers
- Melbourne goes to the Cup
- Sydney picks up some of the slack
- Final auction clearance holds up
Last week saw auction volumes reach their highest level this year, with 2,622 capital city homes taken to auction. The last time volumes were at a similar level was in December last year with volumes having continued to trend lower each week relative to a year ago throughout 2019.
This week and weekend
Volumes are down this week due mainly to the halt in Melbourne for the Cup celebrations. There are 1,433 capital city homes going under the hammer this week compared to last week’s 2,622 – a dip of 45%. It is a tale of 2 cities as the auction numbers this week in Sydney are up to 793 from 771 last week. The smaller capitals are mostly recording higher numbers as well.
Watch for Kevin Brogan’s thoughts about the weekend ahead and the numbers around the country and then join him on Monday as he gives the most comprehensive national roundup of the full week’s activity and a look inside the top sales in 6 capital cities.