Autumn is beginning to feel a bit like Summer or at least Spring as we are lucky enough to have a blast of sun and warmth before we settle in to Winter.
Auctions across the Upper North Shore seemed to be packed with buyers and bidders but with a varying level of success. We have seen some properties in this area sit on market after Auction day but with first hand evidence, it is not from lack of interest but mainly due to active buyers looking to secure quick sales moving, almost panicked, from property to property.
The clearance rate remained high at the weekend across the Sydney market, up at 66%.
There was originally 804 properties listed for Auction with 461 reported to have taken place and 359 sold.
Interestingly, with all the negative media coverage about a falling market, the median sale price was up around $1,255,000. Most coverage compares this quarter with last or this month with the same period last year but the long term data shows that the market is still going up, even a bit sideways, there hasn’t been a drop.
Thomas Merriman.
Thomas Merriman 