BREXIT SCHMEXIT!
While almost $70B was wiped from the ASX after the announcement of the Brits voting to leave the EU there was wide and valid speculation about the impact on property.
However, we still saw really strong Auction Clearance Rates over the weekend.
There was a large amount of property withdrawn, 55, for whatever reason. Often these could have sold prior, withdrawn with no interest or postponed the Auction. Maybe even as a result of the vote. Whatever it was, we still had 405 Auctions reported to have taken place with a recorded Clearance Rate of 74%.
Not quite at the 80% range we have seen lately but still a great result for Sydney.
The Median sale price of property sold at Auction at the weekend was $1,133,500 which is a solid figure too.
Thomas Merriman 