I am loathed to continue commentary about this ‘bubble’ as it suggests that either, I am convinced we are in a bubble or that we need to find labels for things that are cyclical. When the market is doing well, it is a bubble, when it is doing poorly, it is a crisis, what I think we are seeing is a continuation of a strong market. Maybe, hopefully, we just continue to have a strong market.
I made comment in a past post, to the fact that the Sydney property market may just become a ‘trading’ type market, slight volatility depending on holidays and time of year, but otherwise ‘stability’.
This may be the beginning of that. Or a false rally before the big fall.
At the weekend, we saw Auction Clearance Rates steady at similar levels we have had since the beginning of February at 73%.
There were 578 Auctions originally listed for Auction, 408 reportedly took place and of that 408, 332 reported to have sold depending on who you believe.
There were 45 properties reported to have been withdrawn but the big news is, the median price for property cleared at Auction; $1,180,000 which is massive.
Thomas Merriman.
Thomas Merriman 