Super Saturday

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GUEST OBSERVER
Super Saturday is coming early for Cooley Auctions with 100 homes set to go under the hammer on February 25 - a personal best for the successful team.
Looking back at the same weekend over the past five years, February has never looked hotter for Cooley Auctions. Only 2014 came close with 97 auctions in one day, but this year will smash that record.
I wouldn’t be surprised if Sydney cracks 1,000 auctions. It's definitely going to be a very big day. 
There are already 926 auctions scheduled for February 25 according to APM price finder figures, but that number could be higher on the day.
With so many homes on the auction block on one day, the Cooley Auctions team will be far busier than the same weekend last year when there were 66 auctions scheduled. In 2015 there were 83 auctions on the corresponding Saturday.
All eyes turn to February as the month when consumers and industry insiders can truly gauge how the year's auction season will shape up.
It's extremely important that the day passes the acid test. If the market goes well on a big Saturday with big volumes then the indication will be that the market is in a really good position to continue through the Easter period and most likely well into the first half of 2017.
If the autumn season starts with a bang then it almost always guarantees that the winter market will be hot. However, timing is everything.
Super Saturday usually comes just before Easter, but Easter this year is in mid April which is actually really good news for agents.
Agents can capitalise on that time frame. When Easter is a little bit later it means that we get a couple more weeks of auctions in before the holiday weekend.
Despite 2017 barely being two months in, the Sydney auction scene is already showing signs of market sentiment.
Honestly, I think there is a bit of fear about. A lot of vendors are trying to come onto the market as early as they can because there's a lot of talk of a market correction. There is a fear of missing out on the peak of the market which is absolutely a contributing factor to the number of auctions on February 25.
With such a bumper February that will see 403 auctions in the bag, Cooley Auctions is gearing up for a busy 2017. The closest February auction numbers were back in 2015 when the firm clocked up 379 auctions for the shortest month of the year and subsequently went on to perform more than 6,000 auctions over the 12-month period.
Damien Cooley, managing director of Cooley Auctions and can be contacted <a href="https://cooleyauctions.com.au/" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Super Saturday in February: Damien Cooley

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Some 1400 Melbourne homes are expected to go to auction this coming weekend, 26 November, in what will be the biggest test of the spring selling selling season, according to Domain Group's chief economist Andrew Wilson.
He said the weekend will see the Sydney market host its peak spring Super Saturday of auctions with more than 950 homes due to go under the hammer.
"Auction numbers have been significantly lower in Sydney this year compared to last, however, the gap has been narrowing in recent weekends providing more choice for hungry buyers," he said.
"The Sydney market will host its peak spring Super Saturday of auctions with more than 950 homes due to go under the hammer.
"Late spring auction numbers have increased sharply since the Melbourne Cup holiday weekend, with the usual rush to market by sellers who want to get in before the year ends. 
"Higher listings have contributed to a slight easing in clearance rates in recent weeks, but results remain firmly in favour of sellers in what remains strong local market conditions."
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jonathanchancellor-7SQnKwU6yx

Sydney Super Saturday peak, Melbourne's biggest spring market test

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The Melbourne and Sydney auction market in Sydney is strong leading into this weekend's spring Super Saturday sales given the current weekend results.
Domain's Andrew Wilson said the Sydney auction has maintained its boom-time seller momentum during spring, despite the usual surge in late season listing numbers.
"More than 760 homes were scheduled to go under the hammer on Saturday, which was similar to the previous weekend’s figures but again lower than the 863 listed over the same weekend last year," he said.
"Sydney recorded a weekend clearance rate of 79.5 percent, which was similar to the previous Saturday’s 80.4 percent and significantly higher than the 57.5 percent recorded over the same weekend last year.
"The inner suburban and higher-priced suburban regions again produced exceptional results at the weekend, with a number of clearance rates exceeding 90 percent.
"The top performer was the ever-reliable inner west with a 91 per cent result, followed by the northern beaches with 90.5 percent, the city and east with 90.2 percent and the highest sales at 74, the lower north with 84.4 percent, the north-west with 81.5 percent, the upper north shore with 79.4 percent, the south with 74.3 percent, Canterbury Bankstown with 73.9 percent, the west with 69.7 percent, the south-west with 63.3 percent and the central coast with 58.8 percent. 
"Melbourne’s 78.7 percent result was higher than the 77.6 percent recorded the previous weekend and significantly ahead of the 66.3 percent reported over the same weekend last year.
"Late spring auction numbers have increased sharply since the Melbourne Cup holiday weekend, with the usual rush to market by sellers who want to get in before the year ends. Higher listings have contributed to a slight easing in clearance rates in recent weeks, but results remain firmly in favour of sellers in what remains strong local market conditions.
"Next weekend will present the local market with its biggest test of the spring selling season, with nearly 1400 homes set to go under the hammer. 
"Melbourne’s western suburbs continue to record boom-time results, with a leading regional clearance rate of 86.2 percent and the highest sales at 119. The next highest was the inner south with 81.7 percent, closely followed by the outer east and the south-east each with 81.1 percent, then the north with 79.7 percent, the north-east with 76.5 percent, the inner east with 75 percent and the inner city with a clearance rate of 73.7 percent."
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Auction market maintaining momentum leading into Super Saturday

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Camberwell is the busiest individual suburb for auctions across the nation this week, with 27 residential homes set to go under the hammer, followed by Reservoir (25), South Yarra (23) and Craigieburn (22) all of which are in Victoria. 
Camberwell's offerings include <a href="https://www.realestate.com.au/property-house-vic-camberwell-126531382" target="_blank">a two bedroom Californian bungalow</a> on a 697 sq m Athelstan Road block with $2 million to $2.2 million hopes.
The combined capital cities are expected to see a surge in auction activity this week, with 3,451 homes scheduled to go under the hammer; this is an increase of 37 per cent when compared to last week’s final results which saw 2,519 properties taken to auction, CoreLogic advise. 
The last time volumes reached a similar level was the pre-Easter week ending the 9 April this year when final figures saw 3,517 auctions held across the capitals. 
While these counts are preliminary, as the week progresses and results are collected, the number of homes taken to auction tends to revise up, which means that it’s likely this week will not only supersede April figures, but also surpass the peak in volumes recorded over the week ending 20 March 2016 (3,540).
Melbourne is set to see the most notable increase in activity this week, with volumes expected to rise by 48 per cent on last week’s figures; with 1,846 Melbourne homes scheduled to go to auction, increasing from the 1,251 held last week. The highest volume of auctions on record for Melbourne was recorded over the week ending 29 Nov 15 (1,876), so this week may very well overtake that record.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/26/Auctions.jpg" alt="" style="font-size: 12.16px;">
The REIv also think the Victorian property market is gearing up for what could be the biggest auction weekend in the state’s history with the REIV counting around 1,900 homes expected to go under the hammer this weekend. 
They had the previous record for auctions held in a single weekend was set in November 2015 when 1,712 auctions were held. 
The REIV suggest a remarkable 1,826 auctions are scheduled for this Saturday alone with around 75 auctions being held on Sunday, including the five Block properties.
Across Australia’s other largest capital city, Sydney volumes are set to increase to a lesser extent with 1,144 properties scheduled to go to auction this week, rising by 39 per cent from last week’s 823 auctions, making it the third busiest week for auctions for the city so far this year.
Across the remaining auction markets, activity is expected to fall across all of the smaller capital cities with the exception of Canberra where more auctions are scheduled this week.
Last week, the final auction clearance rate across the combined capital cities fell to 64.7 per cent across 2,519 auctions, decreasing from the 67.1 per cent across a slightly higher 2,525 auctions the week prior. Compared to one year ago, the clearance rate was a significantly higher 78.1 per cent, while volumes were slightly higher (2,680).
Across Melbourne, auction volumes rose with 1,251 held, however final figures saw the clearance rate drop to 70.3 per cent, down from the week prior when 73.2 per cent of the 1,223 auctions cleared. In Sydney, the final auction clearance rate fell to 61.3 per cent last week, from 63.3 per cent the previous week across a lower volume of auctions, with 823 auctions held across the city, decreasing from 928 the week prior.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/26/Auctionresults.jpg" alt="">
Across the smaller auction markets, clearance rates improved in Brisbane and Tasmania, while Adelaide, Canberra and Perth all recorded lower clearance rates. 
Geelong was the best performing non-capital city region last week, with 68.8 per cent of the 44 auctions successful. However, the Hunter region was host to the highest number of auctions (49).
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j.ballantyne1990-6AQqhLzZaK

Camberwell headlines near-record Super Saturday Melbourne auction offerings

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Adelaide was the best performing weekend auction capital with its affordable prices ranging between $330,000 and $1.45 million.
It scored a 75 per cent clearance rate from its 107 auctions.
Perth returned the lowest preliminary auction clearance rate of 52 per cent.
Auction volumes surge well past 3,000 for the first time this year returning a strong national preliminary auction clearance rate of 70 per cent.
There are two more so-called Super Saturdays squeezed in before the Easter break.
Click here <a href="https://www.propertyobserver.com.au/images/2018/2/26/capitals.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/26/capitals.jpg" alt="">
Upcoming Melbourne sellers include AFL champion Bryce Gibbs.
His former Ascot Vale home (above) before moving interstate to join the Crows has been listed for March 17 auction. 
The former Carlton player bought the two-storey, three-bedroom townhouse at <a id="LPlnk679169" href="https://www.realestate.com.au/property-townhouse-vic-ascot+vale-127607706" target="_blank">67c St Leonards Rd </a>in 2008.
The cheapest weekend result across the capital cities was when a student studio apartment sold pre-auction in Footscray at $120,000.
The sale of <a id="LPlnk308525" href="https://www.realestate.com.au/sold/property-studio-vic-footscray-127480502" target="_blank" rel="noopener noreferrer">224/133 Droop Street offering</a> was a $220 a week rental.
It was listed with a $105,000 to $110,000 price guidance.
The low rise apartment with around 40 sqm had previously traded at $122,000 in 2015. It sold at $127,000 in 2013. 
Across the combined capital cities there was a a total of 3,275 homes taken to auction, up from the prior week's 1,992 auctions when some 66.1 per cent were sold.
It remains down on the same week one year ago when agents secured a 78.4 per cent success rate across a slightly higher volume of 3,301 auctions. 
"Units outperformed the house market, with 72.9 per cent of units selling at auction, while 69.5 per cent of houses sold across the combined capitals," Kevin Brogan, auction analyst at CoreLogic said. 
The highest national sale was in Melbourne when <a id="LPlnk703549" href="https://www.realestate.com.au/sold/property-house-vic-middle+park-127461722" target="_blank" rel="noopener noreferrer">33 Canterbury Road, Middle Park</a> (below) fetched $5.75 million shortly after its auction which had a $5.45 million top bid.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/26/middle.jpg" alt="">
It was Eumeralla, a five bedroom Victorian terrace home on a 50 metre deep allotment. It had soaring ornate ceilings, marble fireplaces, arched entrance hall, gracious sitting room and main bedroom with full width balcony.
Marshall White secured the sale of the home which last sold at $2.5 million in 2006.
There were two bidders.
The highest Sydney sale under the hammer was the five bedroom <a id="LPlnk905843" href="https://www.realestate.com.au/property-house-nsw-strathfield-127449738" target="_blank" rel="noopener noreferrer">29 Cotswold Road Strathfield</a> which sold for $4,810,000.
It last sold in 2003 at $2 million.
There was a pre-auction sale of <a id="LPlnk767615" href="https://www.realestate.com.au/sold/property-house-nsw-bronte-127339282" target="_blank" rel="noopener noreferrer">4 Bayview Street, Bronte</a> for $7.5 million (below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/26/bronte.jpg" alt="">
Melbourne and Sydney both secured auction clearance rates of 71.7 per cent.
Melbourne's was up on the 69.8 per cent final result from the prior weekend.
Its volume jumped to 1,610 auctions held, up from 932 auctions.
In Sydney, 1,221 homes were taken to auction, up from the 737 offered over the prior week. 
Its preliminary result of 71.7 percent, was up on last week’s final clearance rate of 67.8 per cent.
Brisbane had a 53.3 percent clearance rate from 164 auctions listed. Its top sale was $5 million at Chelmer. <a id="LPlnk17197" href="https://www.realestate.com.au/property-house-qld-chelmer-127332058" target="_blank" rel="noopener noreferrer">The 127 Laurel Avenue sale</a> was a five bedroom Knowlman McDonald-built home on a 3122 sqm river frontage sold through Adcock Prestige. 
Adelaide's dearest was a tight finish between <a id="LPlnk946036" href="https://www.realestate.com.au/property-house-sa-henley+beach-127482362" target="_blank" rel="noopener noreferrer">a four bedroom $1.42 million Henley Beach offering</a> and <a id="LPlnk429905" href="https://www.realestate.com.au/property-house-sa-glenelg+east-127505126" target="_blank" rel="noopener noreferrer">a five bedroom $1.42 million Glenelg East house</a>. 
Adelaide's cheapest was <a id="LPlnk416596" href="https://www.realestate.com.au/property-house-sa-semaphore+park-127547786" target="_blank" rel="noopener noreferrer">a $330,000 Semaphore Park two bedroom apartment</a> that looked over Point Malcolm Reserve to the sea.
The 12/403 Esplanade offering was a two storey 80 sqm late 1960s apartment with a rental estimate of $320 to $340 per week.
 
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Super Saturday

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