Spring has no arrived, albeit late, the sunny weather seemed to force the buyers out in numbers to open homes across the Upper North Shore at the weekend. This new influx of buyers is timely with Auction numbers starting to spike, Sydney had 831 properties listed for Auction at the weekend. We are certainly in … More Real Estate Market Commentary 5TH NOVEMBER
September was a big month in Sydney for property sales with the continuation of the high market, prices have remained high and stock has continued to turn over at a solid rate. Auction clearance results peaked for the year at close to 90% depending on which publication one trusts, be it RPData or APM etc. … More SEPTEMBER, WRAPPED UP
There is a lot of talk of ‘low stock levels’ at the moment, and considering that normally we are seeing around 6/700 Auctions occur on a Saturday (at this time of year) we still had 567 scheduled – Which isn’t a significant drop. I would also suggest that while the market hasn’t really made a … More Real Estate Market Commentary 17TH SEPTEMBER
The big news at the moment seems to be the ‘lack of stock’ because everybody needs justification as to why the market is either high or rising or about to crash. There is definitely truth in that though, there is a lack of stock but we have had a few years of very active selling, … More Real Estate Market Commentary 10th SEPTEMBER
Now that we are entering Spring, I think we are all expecting that the market is about to ‘open’, which seems a funny way of thinking about Real Estate now, since Winter has been so good 3 years in a row. We did see a climb in the median sale price on Saturday which is … More Real Estate Market Commentary 3rd SEPTEMBER
Yet another interesting progression in the market at the weekend with Auction Clearance rates still sitting up in the 80% range and median prices for property sold up again. There is smudges of positive and negative feedback about the market in the media publications including the increased rumble from the ‘disruptors’ to the industry. In … More Real Estate Market Commentary 27th AUGUST
Well, I have seen an article suggesting that the Saturday just gone was the best set of Auctions we have had in August, ever. At 84% Clearance Rate, that is no surprise. The amount of property going to Auction is a bit lower however, which may be a contributing factor. The lower stock levels are … More Real Estate Market Commentary 20th AUGUST
It would seem my little hunch was right. I mean, anything can change in 24 hours, but it seemed to quiet for the Auction rates to start sliding anytime soon and now the media are having a field day with ‘low stock levels’ but Spring is coming soon – sooner, I think. There were originally … More Real Estate Market Commentary 13TH AUGUST
I don’t want to speak too soon, but it feels like Spring. The sun is rising earlier, grass is starting to grow and the Auction clearance rate is almost up at 80%. Recent news of the RBA’s decision to cut the official cash rate even lower to 1.50% definitely spurred the market on slightly, see … More Real Estate Market Commentary AUGUST 6TH
This could be an interesting week with a number of different figures being released that may impact the property market in a positive way. The Reserve banks meeting is tipped at a 64% likeliness of a rate cut to 1.50% but either way I don’t think an announcement to stay at 1.75% will be a … More Real Estate Market Commentary 20th JULY
Thomas Merriman 