4 Thomas Street, Strathfield, sold for $3,925,000.
The Sydney has recorded its lowest weekend clearance rate in 18 months, driven down by an unrelenting tidal wave of auction listings.
The weekend's 70.5 per cent result came on the day that 1028 homes went under the hammer, which was a record for the number of auctions on a summer Saturday. This followed last weekend's spring record of 1058, and was the third-highest auction weekend ever. It was also the first time Sydney has hosted back to back auction weekends when more than 1000 properties were up for grabs.
The market will reach an astonishing end-of-year crescendo next weekend with another 1000-plus auctions that will further test the fading Sydney market.
58 First Avenue, Willoughby East, sold for $2.72 million.
It's clear there are not enough buyers to keep up with this torrent of properties. Saturday's result is the fourth consecutive one below 75 per cent. This hasn't happened since December 2012.
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