Any progress on the new-listing side? Even without completed prices, a growing set of close substitutes could justify waiting. If alternatives are disappearing, the 112-day figure may be giving false comfort.
Before deciding whether to bid now or keep waiting, check how many genuine alternatives have appeared since this campaign began. I would not assume that 112 days creates leverage if comparable Sydney stock is still scarce.
Several new options would support a lower offer because the seller is...
How many bathrooms are involved, and will the apartment be vacant during the work? Those two details could change the sequencing significantly. I would also ask where the water isolation points, drains and electrical board are located, and whether contractors need access through common property...