If there was any doubt that the Sydney real estate market is heating up again, some of the hot auctions around town recently are quickly dispelling the perception.
Sydney real estate auctioneer Paul Menck of Menck White Auctioneers recently called an auction at 22 Edmondson St, Ryde where 35 registered bidders were in attendance to compete on an original family home with duplex potential on the block. Robert Cassidy of Cassidy real estate captained the campaign to a powerful close as rapid heated bidding saw the price rise and rise as the auction progressed.
Sydney clearance rates are now consistently sitting in the high 70s and average registrations are proving strong week in week out. These are key indicators of a heating real estate market and represent a stark contrast to the declining situation through most of 2022.