Sydney Property Auction Results Saturday 29th October 2016

Sydney Property Market Analysis 2016

Property snapshot
Listed auctions: 792
Reported auctions: 580
Sold: 508
Withdrawn: 44
Cleared: 81%
Total sales: $538,429,926
Median: $1,300,000
Source: Australian Property Monitors


Sydney property had an 81% clearance rate at Saturday 29th October’s auctions. In good news for buyers, there were 164 more properties listed for auction than the prior week. The median price increased to $1.3m from $1.21m and total sales were up approximately 15% on the previous week.

There were some significant property sales this past week. 6-8 Carrara Rd, Vaucluse, a 9 bedroom, ten bathroom waterfront house, which has been on the market for approximately three years sold for approximately $50m to a local buyer.

The highest sale price of properties listed for auction was 27 Carlisle St, Tamarama, a five bedroom house with water views on 280 sqm, which sold prior to auction for $5.6m.

An unrenovated semi on Middle Head Rd, Mosman without parking sold at auction for $2.475m, a huge $375,000 over reserve.