Vendors willing to sell for less as Sydney auction clearance rates remain steady

Do the weekly auction rates make you more or less inclined to buy or sell property at this time? Despite the pandemic, it’s an interesting time for property – people either think it’s a great time to buy or it’s a great time to sell. Either way, it doesn’t seem that people are sitting still as properties are still being bought and sold. Whether this has a negative effect on property prices needs to be seen.
More homes have sold at auction in Sydney compared with this time last year despite the coronavirus pandemic, with buyers aided by low interest rates and first-time buyer incentives.