SATURDAY might not be the most successful day to auction with Sunday and Friday taking the top spots.
Australians love an auction spectacle so it makes sense that Saturday is traditionally the most popular day to sell your home under the hammer. Since the beginning of the year, the Ray White Group has scheduled 6,574 auctions on a Saturday, the second highest day for volume is a Thursday but there’s a wide gap between them with Thursday only recording 1,898 scheduled auctions. Mondays were the slowest day for auctions at 351 scheduled so far in 2022.This sentiment in favour of Saturdays has had a strong effect on the market and Ray White auction data shows Saturdays have the second highest clearance rate throughout the week at 72 per cent. However, Friday has just narrowly beaten out Saturday for the highest clearance rate with 73 per cent of auctions scheduled at the end of the working week selling under the hammer since the beginning of the year.While on Saturday average registered and active bidder counts were solid, Sunday came out on top for both metrics. Since the start of the year, there has been an average of 6.57 registered bidders and 3.3 active bidders attending Sunday auctions. Wednesday had the lowest amount of average registered bidders at 4.51 while Monday had the least amount of average active bidders at 2.51.It was more likely to see a Thursday auction sell prior this year. More than 21 per cent of scheduled auctions on a Thursday sold prior but Sunday sellers were more likely to hold out and only 15.1 per cent of scheduled auctions sold prior. A smart move by sellers on Sundays since, according to Ray White data, those who sold under the hammer this year achieved on average 11.41 per cent more on top of their sale price than if they’d sold prior to auction.Moving on to what’s happening this week, the Ray White Group has 485 listings scheduled to go to auction nationally. On Saturday alone there are 248 auctions scheduled, still the highest volume for the week. Ray White in Sydney has 138 auctions scheduled while Ray White Melbourne has another 109 auctions booked this week. Ray White Brisbane has 59 auctions scheduled, while Adelaide has 55 auctions booked this week.
