As anticipated and as planned, there was not much at the weekend with regard to Auctions across Sydney.
Most Real Estate agents didn’t open homes, while some did, and most Real Estate agents also didn’t conduct Auctions.
Of those who did conduct Auctions, 33 were reported as taking place and 30 were sold.
At a Clearance Rate of 79% most people would see concern at a 9% drop on last weeks figures, however it is similar to the Easter long weekend with a bumper weekend prior and a significantly large weekend after, so we shall wait and watch.
A lot of Agents, especially across the Upper North Shore of Sydney, have been holding listings back with an anticipated start date of either 2 MAY or 9 MAY with Auctions still taking place in the month of May.
This staggered approach was the bypass either the Easter long weekend or clashing open homes with ANZAC day, and rightly so. It will be interesting to watch and see if the demand persists and the buyers are still thick after what seems like a lifetime break, in Real Estate terms.
However, there is no indication from Banks, Buyers or Agents to suggest that there will be an immediate shift in conditions.
Thomas Merriman.
Thomas Merriman 