As we approach the middle of the last quarter of the year it is interesting to see the amount of property rushing to market and, funnily enough, the amount of buyers scrambling to buy before the holidays.
We are still seeing good prices despite the Auction clearance rates being spotlighted negatively at the moment.
This current market has become difficult to predict with some agencies and media outlets spruiking a downturn in prosperity in the Upper North Shore. While some properties are experiencing a lack of competition we are getting as many as 30 groups through some of our open homes and some properties seeing 16/18 groups through a second weekend of inspections.
We have noticed a shift toward correct presentation and a carefully strategised campaign to ensure complete confidence in securing a good result. Some agencies are still promoting a ‘no advertising’ sales process but one cannot be confident in the result with this strategy anymore.
There were originally 867 Properties scheduled to go to Auction with 520 reported to have taken place and 389 sold under the hammer.
There were 80 withdrawn for whatever reason.
The Median Sale price of property across Sydney sold under the hammer was solid at $1,225,000.
The Clearance Rate – 65%
Thomas Merriman.
Thomas Merriman 