Sydney’ weekend auction market recorded yet another strong clearance rate with results continuing to track over 70.0%.
Auction numbers however remain thin on the ground, with listings falling away after last weekend’s post-holiday surge and totals remaining well behind last year’s same weekend.
Sydney’s weekend rate of 73.5% was down on the previous weekends 75.9% result but yet again well ahead of the the same weekend last year’s 57.9%.
Just 319 Sydney homes were listed for auction on Saturday compared to the previous weekends 340 and lower again than the same weekend last year’s 378.
Sydney’s weekend median auction price of $1,050,000 was again below the previous weekends $1,110,000 and well down on the same weekend last year’s $1,166,000.
Small auction numbers can produce volatile results at the regional level however the Inner West, City and East and Upper North Shore continuing to generally produce consistently strong results for sellers.
At the other end of the scale, the South West and Central Coast remain the market under performers.
Auction numbers will likely rise in coming weekends but will remain relatively low which is bad news for those buyers keen to secure Sydney property.