PHOTO: 87-91 Middle Street in Kingsford, Sydney

Australia is experiencing a boom in auctions as property owners who held their assets through a two-year value downturn begin to take their homes to market.
According to property data firm CoreLogic, the last three months to September 2019 have seen the strongest quarterly clearance rates since early 2017, with over 70 per cent of homes offered to the market finding a buyer.
Last weekend alone 2017 homes were taken to auction across the country, up dramatically from the 1324 the previous week.
The biggest winner of the weekend were the owners of 87-91 Middle Street in Kingsford, Sydney, who scooped the biggest sale in the country after their property sold for a staggering $7.35 million.
The unassuming single-storey red-brick home – which actually comprises of two properties with a combined 1347 square metres – reaped the eye-watering price thanks to its convenient location close to the University of New South Wales, Sydney’s CBD and the nearby Prince of Wales Hospital.