Sydney Auction Results 5th August

Sydney auction clearance rates have settled at 70% again this week giving us a bit of consistency for a change.

There seems to be a slight drop in stock numbers this winter compared to the last few however, scarcity builds demand and demand increases prices, we have seen a bit of this lately despite the lower clearance rate.

The interesting thing is, there seems to be some popular chat about investors leaving the Sydney market and with this we have seen a spike in Canberra clearance rates, up to 72% and Melbourne clearance rates, leading the Australian market up at 74%.

Back in Sydney, we had 503 Auctions originally scheduled with 324 reported to have taken place with 257 sold under the hammer, the Median was up at $1,127,500.

 

Thomas Merriman. 

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