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Sydney auctions: reserve prices smashed by up to $1.15m despite growing seller competition



Auctioneer Andrew Cooley calls bids on a house in Sydney’s south, where multiple downsizers sold homes they had owned for decades.

Another round of Sydney homes have sold for up to $1 million above seller expectations at auction, despite reports of vendors cranking up their reserves to capitalise on the strong market.

The sales came as Sydney’s auction clearance remained close to 80 per cent even with a major lift in the volume of scheduled sales under the hammer.

This week was the second busiest for auction activity across the country so far this year, with nearly 1160 auctions in Sydney alone.

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