Another positive review of the Sydney Auction market this week and we revel in Clearance Rates still in the 70’s.
A continuation at the weekend of the positive sales results as more and more stock seems to be listed for sale by Auction and subsequently selling at Auction.
With Clearance Rates up again at 77% at the weekend we saw 559 properties originally listed for Auction and 419 take place. Also, there were 30 properties withdrawn which gives us the Clearance rate of 77% of properties sold.
The good news, once again, for sellers is the Median price of property sold by Auction at the weekend is up at $1,240,000.
Unfortunately while prospective home-buyers are waiting for prices to fall, it doesn’t seem to be happening yet. Which could mean that when it happens it could be sharp, or that this new spike in prices may be mitigating the dramatic fall where we see a drop to December prices rather than 2013 prices.
Thomas Merriman.
Thomas Merriman 