Less auctions, as Liverpool again led the cheapest Sydney weekend purchasing opportunity

Liverpool was again the location of Sydney's cheapest weekend sale.

It was a two bedroom apartment (below) that fetched $317,500 through Ray White agent Adrian Bonino.

It last sold in 1983 at $35,000. 

The 29/42-44 Copeland Street complex's last sale was in February when another two bedroom apartment fetched $300,000. It was put up for rent a $300 a week, reflecting a 5.2% yield before costs.

There was an 85.1% success rate across the Sydney market that barely paused for the Queen’s Birthday holiday.

Nearly 400 homes were listed which is similar to the last year's 393 and predictably well ahead of the 853 auctioned last weekend, Dr Andrew Wilson, the APM senior economist.

Sydney’s upper north shore hosted the most number of auctions with 55 listed followed by the west with 52, the south west 50, the south 45, the inner west 44, the lower north 32, the northern beaches 32, the s 55, the city and east 31, Canterbury Bankstown 22 and the north west with 18 auctions scheduled this weekend.

Mosman and Hornsby were the most popular suburbs for auctions in Sydney with eight each followed by Blacktown and Guilford with seven each.

Sydney’s weekend auction market bounced back on the last May Saturday to end its record breaking season clearly on a high.

Sydney ‘s has recorded a remarkable average Saturday clearance rate of 84.4 percent over autumn which is well ahead of the 79.3 percent recorded over autumn last year. Clearance rates over the past three months have been the highest ever recorded by Sydney reflecting an unprecedented wave of auction activity.

Although clearance rates are at record levels, the number of auctions conduced this year in Sydney has declined. 10,334 Saturday auctions have been listed since the beginning of February compared to 10,622 over the same period last year.

In late May 10/22 Nagle Street, Liverpool $336,000 - a two bedroom unit (below) was the cheapest on that weekend.

Property Observer gleans the LJ Hooker Liverpool agent Pat Bugge sold it to an investor. It was up for rent last August at $290 a week, reflecting a 4.5% yield.

The block's previous highest two bedroom sale was $321,000 in early 2015, then put up for rent at $300 a week.