Daily Telegraph Real Estate auction blog: rolling updates from the property market

Sydney's real estate market has yet to return to the heights of last year, but things appear to be looking up again for sellers, who have been getting some staggering prices. See the latest results live

There will be more than 1000 auctions this week. Picture: David Swift

Welcome to The Daily Telegraph’s auction coverage.

Sydney’s auction market has started to heat up again after a sluggish start earlier this year and properties have been attracting strong competition under the hammer.

SEE THE LATEST RESULTS BELOW

Just over 1000 properties went under the hammer this week, the biggest volume so far this year, and agents revealed there were multiple homes with more than 10 registered bidders.

Close to three quarters of the auctions could be a success for the sellers if last week’s clearance rate of 75 per cent is repeated.

It’s not quite the market many expected at the start of the year after Sydney’s housing boom appeared to switch gears over December.

GOING UNDER THE HAMMER - NOW

At the time, bidder numbers at auctions were dropping, more homes were passing in and there was a general sense among agents that exhausted buyers were dropping out of the market.

Ray White chief economist Nerida Conisbee said sales appeared to have bounced back.

The market remained cooler than it was during last year’s unprecedented boom, but any weakness has been “overstated”, Ms Conisee said.

“It’s a cooling market, but it is still fairly strong,” she said. “Last year was just an incredible year, we’ve never seen anything like it, but the fact the market isn’t like that anymore doesn’t mean it is soft.”

We’ve revealed the results of some of the biggest auctions below: