Preliminary clearance rates rose across the board, with Sydney lifting to 74.4 per cent, the highest since August according to CoreLogic.
Buyers targeted family homes and were willing to pay hundreds of thousands of dollars above the reserve, as was the case with the four-bedroom, three-bathroom house at 16 Challis Avenue Dulwich Hill in Sydney’s inner west.
Sydney-based auctioneer Clarence White said units under $1.5 million were also in high demand among buyers.“We’re seeing some buyers gravitate back towards those lower price point properties because they represent value relative to houses, so there’s quite a bit of energy in that segment,” he said. “We’re seeing a resurgence in demand for unrenovated properties at the moment as more investors turn to flipping a property, rather than holding it over the long term,” he said.
“This property broke the building record for a two-bedroom apartment, which is a really good example of the change in sentiment,” he said.
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