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

A hoarder house that buyers were warned to enter at their own risk has changed hands for a shock price on Sydney’s “super Saturday” of auctions. 

Auctioneer Andrew Cooley recently dropped the hammer on a Port Hacking home for $1m over reserve. Picture: Darren Leigh Roberts

Welcome to The Daily Telegraph’s auction coverage.

It’s another “super Saturday” of auction activity in Sydney, with the highest number of sales in months.

More than 1200 homes have been scheduled to go under the hammer over the week, a significant rise from this time last year and the second highest volume of auctions in a week so far this year.

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Conditions remain titled in seller’s favour, but the market is showing signs of moderating.

With more auctions and more new listings, weekly clearance rates have been dropping.

Last week’s clearance rate remained high at 77 per cent, but it was below the 85 per cent success rate of auctions during much of the lockdown period.

Buyer’s agents reported there was also an improvement in the “quality” of housing coming onto the market as the homeowners who delayed selling during lockdown often held the most coveted homes.

Multiple properties are expected to attract over 10 bidders and we’ll be streaming and providing updates on some of the biggest sales below: