By using this website, you agree to our use of cookies to enhance your experience.


Housing market boom: Sydney records £460m auction weekend

Investors are cashing in on Sydney’s strong pre-Easter property market by selling homes across the city, a trend which contributed towards a record-breaking property auction performance on Saturday, when an unprecedented 1,152 homes were scheduled for auction – the highest ever weekend offering, beating the previous record of 1,128 which was set on the pre-Easter weekend of 2015.

Sydney also recorded its highest ever number of weekend auction sales last Saturday with $760.9m (£460m) worth of property changing hands.

The sharp rise in listings did not have an adverse impact on the clearance rate of 80.9%, which was higher than the 70.3% recorded over the same weekend last year.


The average auction price on Saturday was $1.32m (£1.1m), up 9.1% on the $1.21m (£1m) recorded over the corresponding weekend last year.

Sydney has now recorded five consecutive weekends with clearance rates above 80% for the first time in almost two years, supported in part by low mortgage rates.

Residential property prices in Sydney are currently increasing at their fastest pace in 15 years


Please login to comment

MovePal MovePal MovePal
sign up