The number of auctions in Sydney jumped to a record during the week ending 27 September as first homebuyers rush to lock in their purchase before the first homeowner grant boost is reduced.

RP Data reported that total number of auction in Sydney has jumped by 47% to 811. The number of properties sold successfully was also high at 74.2% auction clearance rates.

However, the former frontrunner, Melbourne, saw a reversal of fortune with the number of auctions falling sharply during the same period. Total auction sank 84% to just 139 but auction clearance rates remain high at 81.9%.

Source RP Data