Selling a house via auction in Sydney
The Australian Property Monitors have released a report on Sydney's auction market, which shows that those selling a house by auction in Sydney have often found success.
Despite the school holidays and wet weather that usually deter people from attending auctions, the June weekend rate for the city was 77.4 per cent, which is a continuation of similarly high rates recorded in April and May.
Average clearance rates for weekends since early June are now 76.3 per cent, which is up from the 74.7 per cent that was averaged between Easter and Queen's birthday, equalling the highest level of residential property buyer activity for this time of year in a decade.
Compared to success rates for auctions in Victoria, Sydney is almost a full five per cent higher in terms of weekend auction success, with the Real Estate Institute of Victoria's latest data showing a 70 per cent rate for the weekend of June 16 and 17.
There are plenty of advantages to selling a house via auction, so those in Sydney may find that this is a viable option when they consider selling up.