Daily Telegraph real estate auction blog: rolling updates from the auction market

Sydney’s housing market may be red hot but some sellers are shooting themselves in the foot, experts warn. See the latest results with our live coverage

Auctioneer Clarence White dropped the hammer at $1.75m on a tiny Leichhardt house. Picture: Sam Ruttyn

Welcome to our live coverage of Sydney property auctions.

It’s shaping up to be one of the strangest spring selling seasons in Sydney’s history due to the lockdown situation.  Close to 500 properties will be going under the hammer this week and, if the past week’s numbers are any indication, about 80 per cent will likely sell.

SEE AUCTION RESULTS BELOW

The sales are occurring amid one of the biggest listings slumps ever recorded: most homeowners with plans to sell have withdrawn their properties from the market. Many will likely resume their sales once lockdown restrictions ease.

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This hesitancy from sellers has not been matched by buyers, who have remained active in the market – many spurred by low interest rates.

Within this environment, the few sellers who did go to market got huge results, with auction data showing the average auction in August had eight bidders. In normal times, the typical auction would attract three to four bidders.

Read on for the Daily Telegraph’s rolling coverage of property auctions as they happen