Melbourne loses auction crown to Sydney as Super Saturdays slide

Victoria has lost its auction crown to Sydney as a lack of Super Saturdays hits this spring, for the first time since 2020. Melbourne has officially lost its auction crown to Sydney as Victoria’s capital hits a grim new post-Covid record. Real Estate Institute of Victoria figures show the state hasn’t had a single Super Saturday with 1000 or more weekly auctions so far this spring. The last time this occurred was during 2020 when a pandemic lockdown ran from July until late October, and was followed by restrictions on crowd size and attendance at auctions that resulted in limited use of the format for several further weeks. RELATED: Victorian government under fire as delayed data reveals 6000 rental loss Home approvals fall 32,000 short of national target amid housing crisis The Block Mount Eliza delivered auction millions but Channel 9 must fix major flaws REIV chief executive Toby Balazs said it was disappointing to see Sydney’s auction market performing at a much stronger level than Melbourne’s at the moment. The outcome had been warned of prior to the implementation of Victoria’s new laws banning sellers from going to auction unless they disclose the reserve at least seven days...