Eager house hunters hoping to secure a home at auction over the weekend would have been disappointed, with slim pickings on offer.

But it's not all bad news. Sellers are perfectly positioned to take advantage of the lack of stock on the market, according to Sydney-based auctioneer Damien Cooley of Cooley Auctions.

Mr Cooley says most people are "just sitting on their assets" if they don't have to sell and aren't looking to upgrade or downsize.

He believes anyone who is selling earlier in 2019 has a "good chance".

Similarly, Lachlan Goddard, sales consultant at Jellis Craig Northcote believes sellers will want to get their properties off their hands before the election campaign begins later this year.

"The first quarter of this year will have a bit more activity as those looking to sell will want to get their campaigns finished before the election.  Also, any policy changes to capital gains and negative gearing will impact homeowners and investors respectively," he told WILLIAMS MEDIA.

The nation's property market ended last year on a sour note with the weakest conditions in a decade. National dwelling values fell 4.8 per cent over the year to December. Sydney led the decline with prices dropping 8.9 per cent followed by a 7 per cent fall in Melbourne and 4.7 per cent in Perth.

On the final auction weekend of 2018, Brisbane recorded the weakest result with only 32 per cent of the 102 properties scheduled for auction selling.

In Sydney, 41 per cent of homes sold, followed by a slightly stronger result in Canberra at 44 per cent. Melbourne recorded a clearance rate of 48 per cent and 52 per cent of properties sold in Adelaide.

The selling season will well and truly kick off when auctions return in February. 

Related reading:

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