PHOTO: Rebecca and Bernie Ferguson, with daughter Ashlyn, 5, and son Mitchell, 2, are taking their Lane Cove home to auction. Picture: Jonathan Ng Source: News Corp Australia
Homeowners who put their properties up for auction have been laughing all the way to the bank as the Sydney housing market continues to heat up.
Auctions concluded this year netted vendors an average of about $70,000 above their price guides, with the median value of properties sold under the hammer at just under $1.25 million.
This was nearly $400,000 higher than the median price of private treaty sales, realestate.com.au research showed.
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Many of the strongest sales occurred over the months following the federal election, with August auctions delivering particularly solid results for vendors.
Close to four in five homes going to auction over the last two weeks sold under the hammer — the highest clearance rate in close to two years.
READ MOE VIA NEWS.COM.AU