Exceptional auction market performances over winter ensure a confident start to spring, with the prospect of continuing strong results.
According to Domain Group senior economist Dr Andrew Wilson, Sydney’s weekend auction market has performed strongly over winter, with rising buyer momentum over recent weeks producing boom-time results.
“The late winter market continues to strengthen, recording its third consecutive clearance rate above 80 per cent last weekend,” he said.
“Sydney has recorded its highest ever August for auction listings this year with 2,660 properties going under the hammer.
“The Sydney auction market is now clearly on the rise with the four-weekend average clearance rising to 81.3 per cent compared to 76.2 per cent over the previous four-weekend period.
“Auction numbers have risen steadily over recent weekends with 573 auctions scheduled this weekend compared to the previous weekend’s 440 and the 550 listed over the same weekend last year,” he added.
The city and east will host the greatest number of auctions with 82, followed by the inner west with 81, the south with 75, the upper north shore with 74, the west with 62, the lower north with 57, and the northern beaches with 41 auctions scheduled.
Source: Reb
For more information on the auction process please call Ray White Real Estate Narraweena 9984 7100 or Ray White Real Estate Narrabeen 9970 6777
1. Research & plan Before you consider selling, research the market, focusing on properties in your area. Is it a good time to sell? Where do you intend to move next? What’s your budget, including moving? You don’t need all the answers, but you should develop a clear set of goals … Read more
Federal Treasurer Scott Morrison’s second budget was delivered this month to Australia, with a range of changes for first home buyers, property investors and older Australians looking to downsize. Overall, the measures are designed to free up more development land and get first home buyers into the market sooner. Here … Read more