A number of properties in Sydney have been snapped up before they were due to be put to auction, which could interest those looking to invest in Australian property.
The Northern District Times is reporting that two Denistone East properties were bought before they had a chance to be put under the hammer, showing the sector's health.
Tony Jasprizza, an industry expert, told the news provider that the market looks strong and there have been numerous good sales results.
He highlighted the high clearance rates that Sydney properties have been fetching at auction and explained that the owners were happy to forego the auction in order to accept the offer, which was approximately $20,000 (£12,500) higher than had been anticipated.
Earlier this week, the Real Estate Institute of Victoria published figures showing that the area has experienced a hike in property prices during the last 12 months, which could be good news for those looking to invest in Australian property.
