Cooley Auctions takes auction success rates into the 90s

Sydney auction clearances rates have been in the 80s for all of February.

But the Monday auctions at Cooley Auction Centre East saw a clearance rate on the night of 94%, with 29 of the 31 offered finding a buyer.

There was an average of four registered bidders per property across the 16 auctioned on the night.

Many sold before and one was postponed.

Source: Cooley

The property with the most competitive bidding was 8/24 Manion Avenue, Rose Bay which also sold for the most over reserve % wise.

It fetched $780,000 which was $90,000 or 13% over reserve.

Dollar wise, the property selling the most over reserve was 140 Military Road Dover Heights. The home sold for $3.68 million which was $380,000 above the written reserve.

All up Damien Cooley secured around $733,500 over the written reserves on the night, equating to an average $52,000 over reserve.

Counting his other auctions this week has seen his sellers secure a staggering $4,978,500 above their reserve prices.