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Sydney Auction Season Starts Strongly

By Louise Morrin

Sydney's auction activity is proving to be incredibly strong, with a clearance rate of 80.3 per cent over the weekend, according to a February 2 article by Australian Property Monitors (APM).

The same weekend a year ago had a lower rate of 71.4 per cent.

High clearance rates between September and November last year are not just a thing of the past it seems, and homeowners looking to sell their property in St George or Carlton may be more confident armed with this knowledge.

Between September and November last year, 12 Saturdays had an average clearance rate of 82.7 per cent. Even the sole outlier performed well, with a rate of 79.9 per cent, according to APM.

It will be interesting to watch what happens over the upcoming weeks as an "exceptional" number of properties go to auction, noted APM.

Sydney's house prices increased by 14.1 per cent last year, while unit prices rose by 11.7 per cent. Both houses and units are viable options for investors and buyers, who may well nab the ideal property under the hammer.

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