The number of spring auctions is set to rise as preliminary clearance rates hold firm above 70 per cent, in a sign price growth could cool before the year’s end.
“The key trend to watch through spring is rising auction numbers and volumes,” he said.
“Sydney house values were growing 2 per cent month on month, but a capital gain getting to 0.5 to 1 per cent month on month would be much more sustainable,” Mr Lawless said.In Sydney’s inner west, a three-bedroom home sold under the hammer for $3.24 million, $640,000 over the initial $2.6 million price guide.
At the packed Saturday-morning auction, three parties battled it out in rapid-fire bids to take the price well above the $2.8 million reserve.
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