I have mentioned before that there is a misconception about Sydney property prices in the minds of many and in the pages and screens of media, this is not because of incorrect information but because of the different angle the story is intended to cover.
This weekend’s median price of property cleared at Auction was recorded to be $1,150,000 which is well above the currently recorded Sydney median price, widely covered in the NEWS. This Auction median is not a mass indicator of the Sydney market, and as I have said, these figures are often NOT recorded, or recorded incorrectly in some cases. However, this price is a good indicator for people looking to buy and sell at Auction.
The clearance rate, still up in the 80’s at 83% which is great considering 545 Auctions were reported to have taken place. Out of the original 686 properties listed to go for Auction, 475 sold under the hammer at the weekend.
This winter has been a busy one. I wonder what Spring will be like?
Thomas Merriman.
Thomas Merriman 