Sydney experiences spring selling surge

A number of factors combined to provide homebuyers with amazing opportunities over the weekend of September 17 and 18, with 349 properties up for auction in Sydney.

Of those that went under the hammer, 57.1 per cent went to the highest bidder, with only 45 of those remaining being withdrawn by their vendors.

Compared with last week's 196 auction sales, this week's numbers could indicate a revival in house sales inspired by more realistic market expectations.

Speaking on the weekend's sales results, president of the Real Estate Institute of NSW Wayne Stewart says that the state may be due to experience a reinvigorated market.

"Consumer confidence is high and property prices have adjusted to the stage where NSW consumers are saying it's a good time to get out and buy," said Stewart.

Property investors with real estate training could take this as a sign that their assets may soon come to term.

Total sales in Sydney reached in excess of $169 million dollars, with the most expensive of those on Macquarie Street - a two-bedroom unit selling for $3.6 million - and the most affordable a two-bedroom house at $300,000 in Tacoma near Wyong.