Record Super Saturday Melbourne home buyers delight

Melbourne will set a new record this weekend for the number of listings conducted on the traditional pre-AFL Grand Final Super Saturday of auctions.

Vendors typically crowd the local market on this day to avoid a clash with the popular big game conducted the following Saturday. The commencement of school holidays next week is also a distraction for buyers and sellers with home auction scheduling adjusted accordingly.

The Grand Final Super Saturday of auctions also punctuates the first phase of the spring selling season and provides a robust test for the local market. Auctions rise steadily following Grand Final Day until the next pause in action on Melbourne Cup weekend in early November

Nearly 1150 homes are likely to have gone under the hammer this Saturday when final results are reported which will be well ahead of the previous record of 1057 set on the same weekend in 2015.

This weekend’s auction numbers will also be the highest ever recorded for a September Saturday in Melbourne with total auctions conducted over the month also likely to be new record high for September.

Weekend auction listings have surged so far this year in Melbourne increasing by 17.2 per cent compared to the same period last year  – a rise of 4055.

This weekend’s Super Saturday auction numbers will be predictably well ahead of last weekend’s 1066 auctions and significantly higher than the 952 conducted over the same Saturday last year.

Melbourne’s west will offer buyers the most choice this weekend with 234 listings followed by the north east 165, the inner city 151, the outer east 144, the inner south 129, the inner east 106, the north 105 and the south east with 71 auctions listed.

Brunswick is Melbourne’s most popular auction suburb on Saturday with 21 listed followed by Reservoir 19, Hoppers Crossing 13, Northcote 14 and South Yarra and St Kilda with 13 auctions each scheduled.

The remarkably consistent Melbourne market recorded another robust clearance rate last weekend with the local market driven by more boom-time results from the outer suburbs

Melbourne reported a robust clearance rate of 76.0 per cent last Saturday which was higher than the 73.1 percent recorded over the previous weekend but remained below the 79.5 per cent reported over the same weekend last year.

Melbourne weekend clearance rates have averaged 75.0 per cent since the Queen’s Birthday holiday weekend in June which is only slightly lower than the 77.9 per cent averaged over this year’s autumn selling season.

Andrew Wilson is Domain Group Chief Economist Twitter@DocAndrewWilson join on LinkedIn and Facebook at MyHousingMarket