It feels strange reporting Auction Clearance Rates so early in the year and it is almost a strange reality to accept that they are so low, already. However, I must exclaim, we are not really in ‘full swing’ yet, with only 30 Auctions reported to have taken place across Sydney.
Of those 30 Auctions, 16 properties were reported to have sold. I am sure the other 14 vendors must be slightly upset but they are the litmus test for the 2016 market, I guess.
The Clearance Rate was reported at 43% but is incorrect judging by the amount of properties reported to have sold at Auction, may be some conspiracy?
So far this year, buyers seem to have returned in strong numbers, some familiar faces and definitely some brand new, bright-eyed and bushy tailed hopefuls. With these new buyers comes new scrutiny, new rumours, new expectations and new rules.
With interest rates on hold, buyers in numbers, property still hitting the market and a steady rate of growth in infrastructure and other large public projects, I would say this isn’t going to be the year from hell, as people thought.
Good luck.
Thomas Merriman.
Thomas Merriman 