According to The Australian Financial Review, a rush of auctions is stirring the Sydney and Melbourne markets into action much earlier than usual this year as home sellers, buoyed by the strong appetite shown by buyers before Christmas, throw open their doors to summertime bidders.
Last week 174 auctions are listed for Melbourne, more than four times the count for the comparable week last year, according to SQM Research. The following week the count rises rapidly to 439, more than double the corresponding period last year.
It's a similar albeit more muted pattern in Sydney, with 53 auctions set for last week, a substantial step-up from a year earlier, the count rises to 278 the following week, double what it was last year.
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