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Staff Reporter
Consumer demand for in-room auctions has given the award-winning auctioneers at Cooley Auctions one of their best ever results in the past week.
Sydney’s residential real estate market is showing no sign of waiting around for Saturday auctions, according to Damien Cooley, director at Cooley Auctions, with 75 properties going under the hammer since the start of the week, achieving a clearance rate of 72 per cent.
Last night, Mr Cooley brought to auction 16 properties at his auction centre in Double Bay. According to Mr Cooley, the event attracted ‘fierce competition’ via 83 bids.
“It’s exciting times in the real estate market and the biggest shift we are witnessing at the moment is an increase in the number of registered bidders," he said.
“Clearance rates are up and auctions are increasing in popularity as a method of sale with vendors recognising the clear advantage of creating a competitive environment and the potential for achieving a premium price."
On the same night across town at the Cooley Auction Centre South, another of the company's auctioneers sold five of the six houses put to auction.
The Cooley Auction Centre East was alive on Tuesday 26 February with auctioneer Andrew Cooley selling 15 of the 22 properties listed. Meanwhile, at the Crowne Plaza Hotel Coogee Mr Cooley sold 14 of the 18 properties for sale on behalf of NG Farah Real Estate.
The company also handled another in-room auction earlier in the week at Highland Property Agents’ head office auction centre, in Cronulla, with four out of six properties selling.
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