Sydney’s auction numbers are set to soar for the second weekend of summer with 979 properties scheduled to go under-the-hammer on Saturday.
The record number is the fifth highest number of auctions ever scheduled in the city.
77 properties have already sold so far during the month of December in Ku-ring-gai, with only 27 new listings advertised on Realestate.com.au.
Senior economist for the Domain Group, Dr Andrew Wilson, revealed that 45 per cent of auction sales currently recorded are occurring prior to the actual auction.
15 Knowlman Avenue Pymble sold in just eight days and 29 Barraneer Avenue St Ives sold prior to auction after only seven days on the market, both by Michelle Placks of Century 21 Cordeau Marshall Gordon
With an abundance of auctions and fewer buyers, the clearance rate has fallen below 75 per cent for the fourth consecutive week – results that have not occurred since December 2012.