No day of rest for auctions
SUNDAY auctions have been boosted this year with more people selling their homes on the traditional day of rest.
Real Estate Institute of Victoria data shows there have been 714 Sunday auctions this year — almost 10 per cent more than at the same time last year.
Sales figures have also been strong, with a clearance rate of 81 per cent.
Caulfield North is the city’s Sunday auction hot spot, with 90 homes going under the hammer and 80 per cent selling.
Nearby Caulfield South, St Kilda East, Caulfield and Elsternwick are Melbourne’s other busiest suburbs for Sunday auction activity.
REIV president Joseph Walton said cultural and religious factors were the main reasons for choosing Sunday.
“Sunday auctions in premium inner-city areas appeal to a wide range of buyers, with auction volumes set to increase as the spring selling season heats up,” he said.
“Reduced auction competition on Sunday is boosting buyer attendance and delivering solid results for vendors.”
About 40 auctions are scheduled for today, including nine in St Kilda East, four in Caulfield and three in Caulfield North. In Armadale, the home of interior designer Jean-Pierre Heurteau at 505 Dandenong Rd will also be auctioned.
Gary Peer Caulfield agent Adam Joske said open for inspections and auctions on Sundays were important to accommodate the Jewish community.
“We don’t believe we have strong Jewish interest (in 505 Dandenong Rd), however we are doing it so we can get a competitive advantage by being one of probably the only Sunday auctions in Armadale this weekend, so we are giving our vendor a competitive advantage,” he said.
“Inspections on Sundays mean that the buyers who can’t make Saturday can make Sunday, and it’s more accommodating as they can see properties over the weekend on two days. The number of buyers inspecting our properties are greater than most because we have two days rather than the one.”
Mr Walton said 2017 had been strong for Sunday auction activity but it was likely to fall short of the busiest year on record, which was 2015, when 1321 auctions were held.
Interior designer Jean-Pierre Heurteau’s Armadale home will be auctioned today.