Auction clearance rates are cooling off as more buyers take advantage of better weather and prettier gardens to put their property on the market.
The preliminary auction clearance rate for all capital cities on the weekend was 76.4%, down from last week's final result of 77.1%, according to CoreLogic.
A total of 2,026 properties went to auction during the week, up from 1,899 the previous week, but still significantly lower than the 2,654 properties that went under the hammer at the same time last year.
It appears buyers can't get enough property in Sydney's inner west and eastern suburbs, with both regions achieving clearance rates above 90%.
A three-bedroom semi at 127 Annandale Street, Annandale, sold for $2.3 million, which was a new record for semis in the suburb according to Simon Pilcher, of Pilcher Residential - Annandale. The property was sold to a family from the area, said Pilcher, "because they know how rare they (these properties) are."
Pilcher said properties on Annandale Street are usually hotly contested, and buyers are usually locals seeking a family home on the beautiful, wide street. Pilcher said the house ticked all boxes; it was a large family home, close to amenities, and with off-street parking.
The agents saw more than 200 groups through the house. Though large family homes on Annandale Street are rare and always highly sought after, Pilcher said that "slowly but surely" he is starting to see a rise in property listings more generally, and more buyers are preparing for sales into the new year.
A property at 11 Lucretia Avenue, Longueville, sold for $4,925000, which was $1,175,000 over the reserve, according to Domain. Agent Brent Courtney of McGrath Lane Cove attributed the strong result to lack of supply and two parties very keen to buy.
CoreLogic data showed that prices are still rising around the country, except in Perth, where prices eased 0.6% during the week and are down 5.6% for the year.
See also:
Sydney, Melbourne auctions still running hot
Auction clearances suggest low rates have reignited property boom