As buyers scramble over a shrinking pool of stock, homes in Sydney and Brisbane suburbs are setting records and breaking reserves despite fears of further rate rises.
Three-quarters of homes listed for auction sold in the past week, with clearance rates ticking up as buyers chased a diminishing number of properties for sale.
But as buyers scramble for a shrinking pool of stock, some homes are being sold comfortably over their reserve, such as the three-bedroom home in Sydney’s Lane Cove which sold under the hammer for $2.76 million on the weekend. “Stock is very low in our area and that property was exceptionally well presented. It attracted a very diverse range of buyers, both young families and downsizers,” Mr Goodman told“It’s traditionally a time when there is less stock on the market. When you’re already in a low-stock market, it exacerbates the situation.”
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