Typically I would not cite weather, holidays or significant events as a reason for low open home numbers or low Auction clearance rates but as the bigger picture stuff impacts us more and more, it looks like it weighs on the small picture stuff.
The weekend of wet wind and cold certainly had an impact on the market with slightly lower open home attendance and visibly lower Auction results.
However, as stated in recent posts the Auction clearance rates are becoming less reliable as properties are more likely to sell prior or be pushed back a week from the original date. This may be the result of tighter bank lending and a ton of negative media coverage.
The Sydney clearance rate was lower at 56% with 577 Auctions originally scheduled and 33 reported to have taken place of those properties 238 sold under the hammer.
The median sale price of property sold under the hammer was $1,270,000.
Thomas Merriman.
Thomas Merriman 