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

There are more signs Sydney’s housing market is cooling fast and recent auctions have delivered some big surprises. See the latest results

Welcome to The Daily Telegraph’s auction coverage.

Doors have been opening up for Sydney buyers as the supply of available housing continues to increase and homeowners schedule more auctions.

This week there were nearly 950 auctions across Sydney, the most for a single week since early December and a large number for this time of the year.

SEE THE AUCTION RESULTS BELOW

The increased listings appear to be improving things for buyers, who last year had to contend with a considerable housing shortage, which ramped up competition.

Indicators from CoreLogic showed about 72 per cent of the auctions held last week were a success for the sellers. That’s a little higher than average but far from the heights of the boom last year when 85 per cent or 90 per cent clearance rates were the norm on many weeks.

Agents reported “quality” houses on quiet streets were selling well – it was the properties with defects or major drawbacks that were tending to pass in.

That may sound obvious, but consider that last year’s boom was a tide that lifted all boats and nearly every property was attracting stiff competition at auction.

Details of some of the biggest results are below: