Super Saturday in Sydney with over 1,150 Auctions scheduled to take place on Saturday, everybody was watching with eagerness, buyers, sellers and agents alike.
Of the original properties scheduled to go to Auction, 814 were reported to go under the hammer and 700 were reported to have sold with 51 withdrawn for whatever reason.
The clearance rate was recorded at 81% with the median price sitting up at $1,320,000 which has been consistently rising slowly with a few slight variations over the past 2 or 3 years.
It is impressive to see, that even with a large number of properties scheduled for auction, a clearance rate as high as 81% even with the negativity that has been dumped on the state of the real estate market currently.
The focus in the media has been mainly interest rates set to slightly rise and banks increasing rates already for investor loans.
Affordability is still an issue and speculation for a silver bullet is still an open ended conversation. However, a lot of the media attention was around the Melbourne market at the weekend, watch this space.
Thomas Merriman.
Thomas Merriman 