Sydney real estate auctions live: Auctions heat up as buyers spend big

As the hottest day of summer hits Sydney, the auction market is in full swing, with many buyers and sellers already factoring in current and future rate rises.

The Sydney auction market is in full swing for 2023.

While temperatures continue rising across NSW as a late heatwave hits the state, Sydney’s property market continues to remain stable as buyers come better prepared for auctions.
Ray White NSW chief auctioneer Alex Pattaro said both buyers and sellers are enjoying a steady level of bidding activity across NSW.
“Buyers are still eager to secure a home or investment and have already factored in current and future rate rises in their decision making and spending activity.

“Sellers should capitalise on the strong activity, as we sense a shockwave could be on its way. Confidence in the market remains strong as clearance rates last week were recorded at 60 per cent.

Buyers are ignoring their fear of missing out and are seeking to transact in a market with lower prices. Meanwhile. new data has shone a light on Shock results for distressed home sellers.

And for those considering refinancing, this might help: ‘How I saved $60k on my loan with one call to my bank’.

CLICK THE ADDRESS TO WATCH THE AUCTION:

REWATCH AUCTION REPLAYS BELOW: