News

The spring auction selling season in Melbourne has kicked on into early summer this year

17 December 2019

The spring selling season has ended but it hasn’t stopped what has been an unusually busy period for auction listings early in the summer.

The start of summer with the holidays approaching usually sees action on the auction market thin out but this year prices and confidence are rising along with the temperature.

The weekend saw more than 1,200 homes go to auction and to give some perspective, on the same weekend last year there were just 890.

Marshall White director John Bongiorno told Domain that both buyers and sellers were keen to be in the market despite Christmas rapidly approaching.

“It hasn’t let up and with the volume of buyers that we’ve got, the average buyer knows they probably won’t buy a new property before Christmas and they will flow into next year’s market,” he said.

Ray White chief auctioneer for Victoria Matthew Condon said he hadn’t noticed any slowdown either.

“There hasn’t been a slowdown with auctions, inspectors and bidders,” he told Domain.

“It’s hard to believe we’re so close to Christmas.”

“But the gut feeling at the moment is that it’s business as usual.”

The unusually late high volume of listings has meant January and February next year are now set to be busier with more action than was otherwise expected.

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