It’s official, we are back up and running, Sydney.
Donald Trump, interest rates, foreign buyer restrictions, lending criteria changes, negative media coverage. … nothing is stopping us at the moment. It would seem that sheer supply and demand is the main attribute to the continuation of this now, standard, market.
There were originally 543 properties scheduled to go to auction with 367 taking place and 335 reported to have sold under the hammer at the weekend. Despite what was said to be the hottest day on record for Sydney, buyers flocked open homes (with air-con) and filled backyard and auction rooms to push the clearance rate up to 84% across the city on Saturday.
The median price for property sold was $1,200,000.
There was still plenty of stock selling under or around $500,000 but there is now more than ever, a lot of stock selling above $1,000,000 and even around $2,000,000 regularly.
Thomas Merriman.
Thomas Merriman 