Sellers score a home run at auctions after post-election lift in buyer activity

PHOTO: The Kingsford home attracted a lot of buyer interest.Source: News Limited

Buyers were out in force over the first auction weekend since the election, with multiple homes selling for well over reserve, including one that sold for $475k above what the sellers paid in 2015.

Last week’s election result may have put some fight back into buyers who bid strongly at hotly contested auctions across Sydney.

Real estate agents told the Sunday Telegraph many house hunters had been sitting on the fence awaiting the outcome of the election but were now beginning to re-engage with the market.

Their renewed activity was partly from knowing prices would not be impacted by Labor negative gearing reforms, which encouraged them to bid with confidence.

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