26 Nov Sydney Property Auctions November 24th, 2018

Posted at 16:58h in Buyers Agent by Bernadette Brennan

Sydney Property Market Auction Results – November 24th, 2018

Property snapshot
Listed auctions:	814
Reported auctions:	402
Sold:	272
Withdrawn:	201
Cleared:	45%
Total sales:	$203,160,500
Median:	$1,155,000
Source:	Australian Property Monitors

Sydney had a busy auction day with 814 properties scheduled for auction, an increase of 102 properties on the prior week. While more properties sold this week, the auction clearance rate actually dropped to 45% from 47%. This was due to the large number of withdrawn properties. Sydney’s median price dropped $137,000 to $1,155,000 as less high priced properties sold this week. Interestingly, there were a number of $2m+ properties that passed in at auction or were withdrawn. It will be interesting to see what happens to these properties over the next week or two.

Sydney’s top priced auction sale was a stunning contemporary Drummoyne home with views looking across the Parramatta River, which sold for $5.8m (feature image). With 385 sqm of internal living space and situated on a 771 sqm block, this is a lot of house.

Top 5 Sydney Auction Sales:

53 Dening St, Drummoyne, an architecturally designed 5 bedroom contemporary house with a pool sold for $5.8m.
27 Addison Rd, Manly, an original 4 bedroom house sold for $3.42m.
40 Wakeford Rd, Strathfield, a 5 bedroom home sold for $3.4m.
12 Sandbar Place, Port Hacking, a 5 bedroom house on 1,220 sqm sold prior to auction for $3.3m.
14 Peace Ave, Pymble, a 5 bedroom home with a pool on 1,307 sqm sold for $2.95m.