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Sydney market still strong despite soft prices

Investors and property managers in Sydney may have reason to be optimistic after a second weekend of auctions clearing at a stable rate.

Over September 24 and 25 a total of 512 properties were set to go under the hammer, with 361 made available on Saturday.

Of these, Australian Property Monitor reports that 59 per cent were sold during auction - with only 54 being unavailable on the day.

In Sydney the highest price for a private dwelling went to Manly, with a four-bedroom unit being sold for $2.75 million on a vendors bid.

The most affordable property on Saturday was located in Willmot, with a three-bedroom house being sold on a vendor's bid at a flat $200,000.

While the real estate market across Australia remains fairly subdued, the weekend's results show that buyers and sellers seem to be consolidating on price more and more frequently, potentially leading to a higher level of turnover.

This could be good news for investors with property management training looking to buy or sell in the short term, as they may be able to benefit from the increased chances of either gaining a quick sale or scooping up a valuable asset at a reasonable price.





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