Rollercoaster Weekend: Sydney’s Property Market Navigates a Lull and Surprising Bidding Wars

Dive into the fascinating weekend that just unfolded in Sydney’s property market! A mix of surprising results and general trends provided some exciting, and at times shocking, developments for home buyers and sellers.

As we wound down from an action-packed week, the Sydney property market took a breather, with auction clearance rates recording their lowest outcome in six weeks[1]. Although this lull might have seemed alarming, it’s not all doom and gloom. There were still 354 properties up for grabs at auctions, and out of the 228 results reported, an impressive 171 properties found new owners[2]. The clearance rate stood at 75%, reflecting a resilient market despite the lull. With a total auction value of $169,303,513, the median property price was a sturdy $1,400,000[2].



But the weekend wasn’t just about overall trends. Some individual property sales kept everyone on their toes, leading to unexpected plot twists. Two properties, in particular, stole the show, selling for hundreds of thousands above their guide prices. A property in Burraneer, a lovely suburb just 26km south of Sydney CBD, fetched an eye-popping $3.801 million, a hefty 31% more than its guide price[3]. And the drama didn’t stop there. Another property in Epping, located 18km north-west of Sydney CBD, changed hands for a cool $2.11 million. That’s a whopping 51% over its guide price[3]!

These eyebrow-raising sales led to heated discussions and even outrage, with accusations of ‘underquoting’ being thrown around[4]. Underquoting is a controversial tactic where a property is advertised at a price lower than the expected sale price. While this can generate a high level of interest and competition among buyers, it has left many Australians questioning its ethics[4].

Whether you’re a home buyer or seller, it’s crucial to stay informed and understand these market dynamics. So keep your eyes peeled for the next thrilling chapter in Sydney’s property market saga!

[1] The Guardian: Quietest auction week since Easter [2] Realtisan: Sydney Auction Clearance Rate at 75% [3] Daily Mail: Two Sydney houses sell for hundreds of thousands over the price guide [4] Daily Mail: Underquoting in Sydney’s Property Market


This article is intended for informational purposes only and should not be construed as professional real estate or financial advice. The information contained herein is based on public data and sources deemed reliable; however, the author cannot guarantee its accuracy. Market conditions can change rapidly, and the data presented may not reflect the most current situation. Readers are advised to conduct their own due diligence and consult with a professional real estate advisor before making any property decisions.

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