Real estate

SYDNEY AUCTION RESULTS JULY 29TH

As the market has come off the boil slightly, the auction clearance rates seem to have found a new home around the 70% range, hovering between 70% and 75%.
It is important to note that the auction clearance rate is not the salient data point for measuring the temperature of the market, it is more a ‘canary in the mine’.

There were a solid number of properties that were scheduled to go to auction at 537 and 358 that ultimately went to auction of those 281 were sold and 45 were withdrawn for whatever reason.

The median sale price is going through a bit of a wave at the moment signifying the variation in price of property going to auction, some weeks it is as high as $1,300,000 and some as low as under $1,100,000 … this week $1,102,500.

 

Thomas Merriman. 

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