Sydney brokers in the money as clearance rates reach white hot levels

by Mackenzie McCarty10 Sep 2013

The outlook for Sydney brokers just keeps getting better, with the city producing yet another record-breaking weekend auction clearance rate.

Despite the federal election on Saturday, Sydney recorded an whopping 87.6% clearance rate over the weekend, slashing through the previous weekend’s record of 84%.

While listing numbers were relatively low due to sellers keen on avoiding an election day clash, the rising trend of buyer activity continued unhindered, with the city’s clearance rates over the past month now averaging at 83.2%.

A number of suburban areas even recorded 100% clearance rates, including the central coast, the city and east, the north-west and the west.

According to News Ltd, major auction sales included a two-bedroom house in Annandale sold for more than $1.5m, a five-bedroom home in Connells Point sold for $1.7m and a four-bedroom house in Pennant Hills sold for just under $1.2m.

However, the most expensive property reported sold at auction was a five-bedroom home in South Hurstville, sold for $1.84m.