AUCTIONS

The clearance rate for auctions in August was 52% approx. Properties sold over reserve was 35% compared to 69% last year. The number of bidders was 2.5% and last year it was 3.3%. The average number of bids was 7 compared to 11 last year. As can be seen, the market has changed considerably from this time last year. Less people registering and bidding. More properties being passed in and longer days on the market.

Some recent sales:

2 Tamba Place, Port Hacking SOLD $1,525,000 (3 bed, 2 garage, 2 bath, water views)

51 Turriell Point Road, Port Hacking SOLD $1,650,000 (3 bed, 1 bath)

1/95 Nicholson Parade, Cronulla SOLD $1,635,000 (3 bed, 2 bath, 3 garage townhouse)

139 Sylvania Road, Miranda SOLD $925,000 (3 bed, 1 bath, 1 car)