“The proportion of Sydney homes selling before auction is at its highest level in at least two decades, with buyers making strong offers to secure properties before they go under the hammer”, writes Kate Burke in her article on the Domain website today. We’ve seen this with many of our own properties both last year and in 2021. By far the majority sold either ‘off-market’ or pre-auction.
Below Excerpt of the Article by Kate Burke – Domain 10th. March, 2021
According to Domain figures, more than a third of Sydney homes were sold ahead of their scheduled auction last month, as the city’s clearance rate climbed to 81.7 per cent – its highest level in almost six years.
Fear of missing out on auction day is prompting more house hunters to go early and go hard with pre-auction offers, experts say, with 34.4 per cent of properties selling ahead of schedule in February, nationwide – up from 32.8 per cent the previous year.
Domain senior research analyst Dr Nicola Powell said it was common to see more homes sell before auction in a rising market, with buyers keen to avoid potential bidding wars on the auction floor.
- Posted by The Goldman Brothers
- On March 10, 2021
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