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

In more proof Sydney’s housing market has lost the plot, a shell of roof beams surrounded by rubble has sold for the same price as luxury mansions. It was one of many extreme results on Sydney's 'super Saturday' of auctions 

Buyers were out in force in the first round of on-site auctions since lockdown ended. Picture: Julian Andrews

Welcome to The Daily Telegraph’s auction coverage.

It’s the first of a series of back to back “super Saturdays” in the auction market, with more than 1000 homes going under the hammer across Sydney this week.

SEE BELOW FOR RESULTS AND LIVE STREAM

There hasn’t been this much selling activity since the start of June and real estate agents said eased restrictions were encouraging more homeowners to list.

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A PropTrack report released by realestate.com.au this week showed there was a 31 per cent increase in new Sydney property listings over October, which included both private sales and homes due for auction.

Housing experts said the rise in listings would mean more choice for buyers, who had to compete for an unusually low supply of homes during the months of lockdown.

But it may take some time for months of pent up buyer demand to be sated. Auctioneer Damien Cooley, the director of auction house Cooley Auctions, said buyers were out in force since lockdown ended.

“Results have been outstanding,” Mr Cooley said. He added that bidder numbers may gradually drop over the coming weeks but those competing at auction this month would be up against a large cohort of other buyers.

We’ll be following all the biggest results here and you can watch some of the auctions on our live stream.