The Central Coast region of NSW, an hour north of Sydney, recorded one of the strongest clearance rates in the country last week, with 76.9 per cent of the 19 auctions that took place selling under the hammer.

"To be honest, most of our auction properties sell before auction," Colin Granger of George Brand Real Estate Terrigal told SCHWARTZWILLIAMS.

"There's most definitely strong demand for Central Coast property," he said.

"Our Sydney buyers think we're dirt cheap compared to Sydney prices. And local buyers still think there's plenty of growth," said Granger.

Most sales of Central Coast real estate are to seachangers, he said, not as holidays homes.

Buyers are selling in Sydney for $2 million and can buy great home for $1.2 million to $1.3 million, he said. Granger said traffic and safety are other reasons people commonly give for making the move to the Central Coast.

Tim Woodham of George Brand Real Estate focuses on the Copacabana market on the Central Coast. He told SCHWARTZWILLIAMS that "Copacabana is not a huge auction suburb."

"Probably 10 per cent of sales are through auction. But most of the properties that go to auction are sold," he said.

Woodham said that late last year he took a five-bedroom property only moments from the beach at 117 Del Rio Drive, Copacabana, to auction. The property sold a week prior to auction for $2.1 million.

Above: This five-bedroom beachfront property at 117 Del Rio Drive, Copacabana, sold prior to auction for $2.1 million. Image: George Brand Real Estate.

"Some owners like to go to auction." he said. "It's an appropriate way to sell premium properties."

Woodham said there has been a lot of activity around Copacabana around the $1 million market, which is slightly higher than the Central Coast median of around $850,000.

Sydney auctions: REINSW president, Leanne Pilkington 

"The auction season is starting to ramp up again for 2018," REINSW president, Leanne Pilkington told SCHWARTZWILLIAMS. Sydney recorded a clearance rate of 63.1 per cent from 207 listings.
 
"The clearance rates are up on the end of 2017, but down compared to the same time last year," said Pilkington. 

"We expect volumes to continue to increase in the next couple of weeks with the last weekend in February looking like a busy weekend for all."

Source: CoreLogic.

Read more about the Central Coast:

Central Coast NSW market takes off

Central Coast waterfront property sells for record price of more than $4.1m

Pearl Beach home for sale