Sydney experiences four year high clearance rate: Cooley Auctions
Leading Sydney auctioneers Cooley Auctioneers has experienced its highest full month clearance rate in almost four years at 75%, according to Cooley Auctions.
The Cooley Index reveals Sydney’s metropolitan auction volume for July was 218.
Damien Cooley says 78% of the city and eastern suburbs listing auction by Cooley Auctions found buyers in July.
The highest auction price for Cooley Auctions was for an eight-bedroom home at 14 Firth Avenue Strathfield.
Situated on 1,220 square metres, the property sold under the hammer for $2.8 million.
The lowest auction price in July for Cooley Auctions was for a studio apartment on Bayswater Road Rushcutters Bay, which sold for $341,000.
The average price at Cooley auctions was $956,360, with the number of properties selling under the hammer in July totaling $85,305,201.
Some 66% of properties sold over their reserve price and 34% of properties sold prior to auction.
The key sale of the index was 14 Inglethorpe Avenue in Kensington, which sold for $1.856 million - $406,000 above its reserve.
It was the first time the three-bedroom home was offered in 26 years and has the option to be restored or renovated.
