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Property continues to sell around Sydney at auction

Agent Select / Property News / Property continues to sell around Sydney at auction

Sydney's auction clearance rate has been skyrocketing this year with every Saturday racking up a rate far above 80 per cent.

Property in the Harbour City is so hot right now that auctioneer Damien Cooley said there are "no excuses" for not selling.

"If you can't sell your home in Sydney right now, there is something wrong with your pricing. Everything is selling, and many well over reserve," he said.

But according to RP Data, this week was a low volume week for auctions across the country.

There were 1934 auctions scheduled across the capital cities this week, considerably less than the 2426 held last week.

The property data company revealed that of the 12,074 homes taken to auction in the city, there have been 10,227 sales, which equates to more than 8 in every 10 auction properties selling successfully result.

This week, there have been 720 homes put under the hammer across Sydney, slightly less than the 796 auctions at the same time last year.

Read the full article at The Daily Telegraph
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