Full Breakdown
Sydney Auction Sales Show Cautious Yet Selective Buyer Behaviour
By Drooid · · How we work
Auction Results
On October 3, 2026, a two-bedroom, 95-square-metre apartment at M601/68 McEvoy Street, Alexandria, sold for $975,000 after bidding opened at $850,000 and rose in $10,000 and $5,000 increments to meet the vendor’s adjusted reserve. The buyer, a first-home purchaser relocating from Newcastle, had previously offered $900,000 before the auction. In the same week, a three-bedroom house on 23 Merinda Avenue, Baulkham Hills, fetched $1.59 million, $140,000 above its $1.45 million reserve, with the successful party planning to rent before renovating.
Rate-Hike Context
Both sales occurred as the Reserve Bank of Australia’s recent interest-rate increase has made prospective buyers more cautious. Sales agents reported that higher borrowing costs are prompting some purchasers to postpone purchases, while others are looking for opportunities before further price declines.
Agent Insights
Moira Verheijen, sales agent for Ray White Erskineville, said the rate rise has heightened market caution but that buyers who identify a property they consider “right” still act quickly. Jamie Benjamin, sales agent for McGrath Castle Hill, noted that location factors—proximity to transport and schools—continue to attract families even when the homes themselves need upgrades.
Market Implications
The contrasting outcomes—one property meeting reserve and another selling well above it—illustrate that overall demand may be tempered, yet well-located units and those offering immediate convenience can still achieve strong prices. Buyers appear to be balancing the risk of higher financing costs against the scarcity of desirable inner-city inventory.