More homes have sold at auction in Sydney compared with this time last year despite the coronavirus pandemic, with buyers aided by low interest rates and first-time buyer incentives.
The coronavirus pandemic has failed to dampen Sydney's property market, with more homes selling at auction compared to this time last year.Sydney has seen a steady decline in home values but the number of auctions have increasedVendors are selling now ahead of a "potentially deflated market" in 2021
The highest clearance rates in the city were in the northern beaches, Sutherland and inner west regions, with high numbers of owner-occupiers buying. She attributed this to a weak rental market from a loss of international students and hospitality workers.Real estate agent Simone Azzi said she was also seeing an increase in transactions in her inner west market.Read more about coronavirus:"I think a lot of that is driven by people being worried about what next year's going to look like and have moved their property plans forward as opposed to waiting for next year.
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