Sydney auction market braces for big weekend


Summary

Antony Lawes’s Hot Auctions: 88 Campbell Street, Surry Hills, About $550,000. 2 bedrooms, 1 bathroom, 0 car spaces. There should be at least eight paddles being waved for this unrenovated terrace, which is on the market for the first time in nearly 50 years. Agent: Ray White Surry Hills, 0438 332 088. Auction: 9am. Antony Lawes’s Hot Auctions: 357 Catherine Street, Lilyfield $1.1 million+. 3 bedrooms, 1 bathroom, 2 car spaces. It’s likely there will be more than five bidders for this double-fronted cottage close to the light-rail station. Agent: Pilcher Residential, 0425 216 043. Inspect: 9.30am. Auction: 9.45am.
Nanjing Night Net

Antony Lawes’s Hot Auctions: 28 Westcott Street, Eastlakes $890,000+. 3 bedrooms, 1 bathoom, 1 car space. About eight bidders are expected for this bungalow in a quiet, convenient location. Agent McGrath Coogee, 0415 647 111. Inspect 11am. Auction 1.30pm.

Sydney is set for another big weekend of auctions, with 565 properties scheduled to go under the hammer.

Though slightly below last weekend’s post-election bumper day, when 637 homes went to auction, this weekend remains well above the same Saturday a year ago, when 504 auctions were scheduled.

Despite the high listing number last weekend, the Sydney weekend home auction market recorded yet another extraordinary result, with a clearance rate of 84.1 per cent.

Sydney’s weekend clearance rate has now exceeded 80 per cent on nine of the past 10 weekends – a rate of 79 per cent was recorded on August 24.

This Saturday, Sydney’s upper north shore is the most popular region for auctions, with 89 scheduled, followed by the inner west with 82, the south with 72 and the city and east region with 71.

Paddington in the eastern suburbs will offer the most properties for sale of any Sydney suburb – eight homes are scheduled to go under the hammer.

A number of suburbs have seven auctions listed, including Strathfield and Marrickville in the inner west, Coogee in the east, St Ives on the upper north shore and Kogarah in the south.

The most popular Sydney suburbs this weekend for unit auctions are Coogee with six, and Randwick and Paddington with five each.

The solid listings numbers again this weekend will present the Sydney spring selling season with yet another stiff test.

However, buyer demand shows no sign of abating so expect more sellers to take advantage of the strongest auction market in 10 years.

Dr Andrew Wilson is senior economist for Fairfax Media-owned Australian Property Monitors.

Twitter: @DocAndrewWilson

This story Administrator ready to work first appeared on Nanjing Night Net.


Antony Lawes’s Hot Auctions: 88 Campbell Street, Surry Hills, About $550,000. 2 bedrooms, 1 bathroom, 0 car spaces. There should be at least eight paddles being waved for this unrenovated terrace, which is on the market for the first time in nearly 50 years. Agent: Ray White Surry Hills, 0438 332 088. Auction: 9am. Antony Lawes’s Hot Auctions: 357 Catherine Street, Lilyfield $1.1 million+. 3 bedrooms, 1 bathroom, 2 car spaces. It’s likely there will be more than five bidders for this double-fronted cottage close to the light-rail station. Agent: Pilcher Residential, 0425 216 043. Inspect: 9.30am. Auction: 9.45am.
Nanjing Night Net

Antony Lawes’s Hot Auctions: 28 Westcott Street, Eastlakes $890,000+. 3 bedrooms, 1 bathoom, 1 car space. About eight bidders are expected for this bungalow in a quiet, convenient location. Agent McGrath Coogee, 0415 647 111. Inspect 11am. Auction 1.30pm.

Sydney is set for another big weekend of auctions, with 565 properties scheduled to go under the hammer.

Though slightly below last weekend’s post-election bumper day, when 637 homes went to auction, this weekend remains well above the same Saturday a year ago, when 504 auctions were scheduled.

Despite the high listing number last weekend, the Sydney weekend home auction market recorded yet another extraordinary result, with a clearance rate of 84.1 per cent.

Sydney’s weekend clearance rate has now exceeded 80 per cent on nine of the past 10 weekends – a rate of 79 per cent was recorded on August 24.

This Saturday, Sydney’s upper north shore is the most popular region for auctions, with 89 scheduled, followed by the inner west with 82, the south with 72 and the city and east region with 71.

Paddington in the eastern suburbs will offer the most properties for sale of any Sydney suburb – eight homes are scheduled to go under the hammer.

A number of suburbs have seven auctions listed, including Strathfield and Marrickville in the inner west, Coogee in the east, St Ives on the upper north shore and Kogarah in the south.

The most popular Sydney suburbs this weekend for unit auctions are Coogee with six, and Randwick and Paddington with five each.

The solid listings numbers again this weekend will present the Sydney spring selling season with yet another stiff test.

However, buyer demand shows no sign of abating so expect more sellers to take advantage of the strongest auction market in 10 years.

Dr Andrew Wilson is senior economist for Fairfax Media-owned Australian Property Monitors.

Twitter: @DocAndrewWilson

This story Administrator ready to work first appeared on Nanjing Night Net.