Epping strength continues in weekend Sydney auctions

The Sydney weekend auction market passed its biggest-ever Saturday September test, according to Australian Property Monitors senior economist Dr Andrew Wilson.

Hosting 723 auctions - a new record for a September Saturday – the Sydney market secured its eighth consecutive weekend clearance rate above 80 percent with an 81.9% initial result.

"Sydney has produced the best start to a spring selling season in its history with historically high levels of auction sales for this time of the year," Dr Wilson said.

The weekend’s record early spring auction numbers were well ahead of the previous weekend’s 621 auctions and the 593 listed over the same weekend a year ago.

Sydney’s four-weekend average clearance rate now stands at 82.9% compared to 82% over the previous four-weekend period.

The inner west reported the highest clearance rate of all the suburban regions at the weekend with a 92.5% result from 93 reported auctions.

This was closely followed by the upper north shore with a clearance rate of 89.3 percent, the city and east with 85.1 percent, the northern beaches at 84.1 percent, the south 84.0 percent, the lower north 80.4 percent, the west 78.7 percent and the north west with a clearance rate of 76.2 percent.

Sales included Kelso, grand Federation Epping residence on a 1239 square metre corner block at $2,002,000.

The 91 Eastwood Avenue property sold through Ray White.

Earlier this month Fourwinds, the 1409 square metre Epping property at 107 Kent Street, sold for $2.46 million, occupied by only two families since constructed 87 years ago. It was a subdividable block (STCA). 

A renovated character home at 56 Cliff Road, sold recently under the hammer for $2.355 million, which Wayne Vaughan from McGrath Epping said was a record for an Epping residential property not earmarked for rezoning.