Sydney experiences four year high clearance rate: Cooley Auctions

Leading Sydney auctioneers Cooley Auctioneers has experienced its highest full month clearance rate in almost four years at 75%, according to Cooley Auctions.

The Cooley Index reveals Sydney’s metropolitan auction volume for July was 218.

Damien Cooley says 78% of the city and eastern suburbs listing auction  by Cooley Auctions found buyers in July.

The highest auction price for Cooley Auctions was for an eight-bedroom home at 14 Firth Avenue Strathfield.

Situated on 1,220 square metres, the property sold under the hammer for $2.8 million.

The lowest auction price in July for Cooley Auctions was for a studio apartment on Bayswater Road Rushcutters Bay, which sold for $341,000.

The average price at Cooley auctions was $956,360, with the number of properties selling under the hammer in July totaling $85,305,201.

Some 66% of properties sold over their reserve price and 34% of properties sold prior to auction. 

The key sale of the index was 14 Inglethorpe Avenue in Kensington, which sold for $1.856 million - $406,000 above its reserve.

It was the first time the three-bedroom home was offered in 26 years and has the option to be restored or renovated.

Nicola Trotman

Nicola Trotman

With a penchant for the written word, Nicola has built a career doing just this – now Creative Director at thriving Melbourne-based PR agency, Greenpoint Media.

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