Auction activity trending up for spring

Ray White’s auction bidder numbers have begun trending up as the weather gets warmer.

Last week the leading group's average registered bidder number rose to 3.8 while average active bidders sat at 2.4 per auction - some of the highest rates seen in winter. This week, the number of registered bidders on average is sitting at 4.5. Average active bidders sits at 2.8 per auction nationally.

Ray White New South Wales chief auctioneer Alex Pattaro (pictured below) said Sydney agents across the city were seeing an increase in buyer activity last week.“August continues to show that the market remains in steady form. It’s great to see our auction volume up 32 per cent compared to August last year,” he said.

“Activity at Sydney auctions continues to increase, last week 88 per cent of conducted auctions obtained active bidding and many agents are reporting higher than average open for inspection numbers and enquiry.

“There are plenty of positives with our data. After a few weeks of looking at Ray White Sydney’s auction metrics, I think we can say the market has certainly stabilised.

“Stock levels will have a huge impact on how buyers engage with properties and with auction clearance rates still higher than private treaty clearance, auction represents the best method of sale for sellers - particularly in a more normal market.”