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

Tensions were flying high at a hotly contested auction for a modest house that eventually sold for a shock $5.6m price. See the latest results with our live coverage

Sydney’s spring auction market is beginning to pick up pace as close to 600 properties go under the hammer over the weekend.

There was initially a slow start to spring sales, with many would-be sellers delaying listing their properties until after lockdown restrictions ease.

With buyer demand still rampant, the shortage of listings intensified competition among house hunters and the 83 per cent clearance rate for auctions last month was the highest for a September on record.

There was a similar success rate for auctions last week, with CoreLogic reporting nearly 82 per cent of the auctions resulted in a sale.

The average auction last month attracted 10 registered bidders and sold for $125,000 over reserve, data from Cooley Auctions revealed.

We’ll be reporting the results of some of this week’s biggest auctions below as they happen: