February’s Sydney property market delivered a solid performance, with team Avenue conducting 60 property auctions and achieving a healthy clearance rate of 72%. Buyer competition remained steady, with properties attracting an average of 4.1 registered bidders and 17 bids per campaign, highlighting consistent engagement across the board. Notably, 30% of properties were sold prior to auction, demonstrating strong early demand, while only 10% of auctions opened with a vendor bid, reflecting genuine buyer participation from the outset.

Pricing outcomes were equally encouraging. The average sale price reached $2,125,392, contributing to a total value sold of $59,511,000 for the reporting period. A significant 68% of properties sold above reserve, achieving an average premium of $10,068, or 1%. These figures indicate a measured but positive price growth, underpinned by competitive bidding and sustained buyer confidence in the current market conditions.

Furthermore, we are now taking bookings for March & April, so if you do have any auctions coming up, we’d love to partner with you. Make sure you get your properties booked in now to secure your preferred date, time & venue.