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1.Market Observations, 8.Was Sticky

28 Sept 2016 (AFR) – Agents run out of stock at another red hot Sydney property auction – ‘It sold like there was gold under the house’

(28 September 2016, AFR, p7, by Su-Lin Tan)

‘Only scraps were left after another mid-week auction in Sydney cleared out on Monday night.  Buyers, particularly babyboomers and upsizers, continue to overwhelm agents with demand for property as nine out of 11 properties worth more than $14 million sold under the hammer at the Double Bay auction centre.  Over in the southwest, all ten properties at the Richardson & Wrench auction in Riverstone in Sydney’s southwest also sold out.  The same conditions prevail: too much demand, too little stock. ‘

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