Thomas Merriman

I read a report that said the coldest day of the year, in Sydney was in June.
It is then amazing to say that the Real Estate market, which is traditionally impacted by weather, especially weather in winter, has been ticking along nicely.

Although the Auction Clearance Rates dropped slightly at the weekend, we were still in the 80’s.
The last few weeks, along with the colder, wetter weather have also been victim to some heavy scrutiny in the media regarding the property bubble and even hyperbole as strong as ‘blood bath’ have been quoted.

With this, I am happy to report, the percentage of property cleared at Auction was 82% with 557 properties reported to have gone to Auction and 479 reported to have cleared. There was originally 672 properties scheduled to go up.
As I always say, these figures are never 100% correct, in my opinion as they rely on the recording agencies to have received all the information and have all information reported correctly.

The big news from the weekend was the median price of property that was reported to have cleared, which was $1,057,500 which is showing strong results for more expensive property.

Thomas Merriman.