The latest Auction clearance rates in Sydney, at the weekend, have given no indication of fear in the face of the impending state election, concern for performance of the global economy or any other external factors impacting buying or lending for Real Estate.
There were 715 Auctions listed to take place with a whopping 578 reported to have taken place.
Of the 578 properties Auctioned 520 were sold under the hammer, at a rate of 86%.
The third quarter of 2014 saw similar Auction results on a consistent level with a slight fall in the forth quarter as stock become thicker on the ground. It was a brewing speculation that the market would continue to bubble away at the lower levels seen in December, however, the second week back in 2015 saw the results start to climb and not drop below 80% since.
Last weekend, with a large number of property listed for Auction would prove that stock is now thicker on the ground, once again, however, the clearance rate is still healthy.
Does this mean we are NOT in a ‘Real Estate Bubble’?
Happy buying, happy selling.
Thomas Merriman.
Thomas Merriman 