Winter is the new Summer, at least in Real Estate, or so it would seem.
This year (2016) seems to be taking the same route as last year with regards to the Sydney property market. We started slowly last year and as the weather cooled, the marketing warmed, well, heated.
We do have a rate cut to be thankful for – at least for those of us invested in Real Estate stock. It could be now that putting money into property is a ‘no-brainer’ if ones money was heavily invested in an interest bearing account, I wonder what the side-effects will be?
The weekend just gone has seen Auction clearance rates heavy again at 72% on some reports and as low as 71%. There were originally 523 Auctions scheduled to go up with 378 reported to have taken place and 31 withdrawn for whatever reason.
The good news, the median sale price for property reported to have been sold at Auction was up at $1,260,500 which is ridiculous and probably shows success in property of a higher price point selling under the hammer.
Let’s see how the next few weeks pan out.
Thomas Merriman.
Thomas Merriman 