Nearly eight out of 10 Sydney homes sold under the hammer over the weekend, the strongest result in 19 months as buyers shrug off the prospect of another rate rise.
Nearly eight out of 10 Sydney homes put up for auction at the weekend sold, the strongest result in 19 months, as buyers shrugged off the, preliminary auction numbers from CoreLogic show.
During the same time last year, 2644 homes were taken to auction across the capital cities, 912 in Sydney and 1245 in Melbourne.Sydney-based real estate agent and chief executive of BresicWhitney, Thomas McGlynn, said strong demand had spread across different types of properties, not just at the upper end.
Independent Sydney-based auctioneer Clarence White also noticed growing competition for units, even those that were shunned during the pandemic.A fully renovated Sydney terrace in Erskineville was sold for $4.2 million, which is $400,000 above the reserve, and broke the suburb’s highest sale price record.
Home buyers continued to flock to larger homes, however, such as the fully renovated four-bedroom terrace on just a 203-square-metre lot at 32 Malcolm Street, Erskineville, in Sydney’s inner west. A four-bedroom, three-bathroom house at 38 Robinson St, East Lindfield, on Sydney’s lower north shore, was sold for $2,295,000, which is $195,000 above the reserve.
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