BREXIT SCHMEXIT! While almost $70B was wiped from the ASX after the announcement of the Brits voting to leave the EU there was wide and valid speculation about the impact on property. However, we still saw really strong Auction Clearance Rates over the weekend. There was a large amount of property withdrawn, 55, for whatever … More Real Estate Market Commentary 25th JUNE
So far this year: The official cash rate is currently sitting at 1.75%, causing interest rates to drop lower, or remain at 4% which has added a bit of heat back into a simmering property market. Buyers have remained steady from last year with a momentary drop in sentiment in December 2015, most of January … More UPPER NORTH SHORE UPDATE JUNE 2016
The follow up to the long weekend solidifies that the property market is hunkering down for winter and we are in it for the long haul, together. Auction clearance rates remained strong at 78% and the high number of agents and vendors still relying upon Auction as the preferred method of sale continues. There were … More Real Estate Market Commentary 18th JUNE
The weekend was a typical example of a long-weekend in Real Estate, lesser amounts of property taken to Auction and slightly lower clearance rates of property that was. However, there was still 284 properties listed to go to Auction with 182 going up and 143 selling under the hammer. There were 21 properties withdrawn for … More Real Estate Market Commentary JUNE 11th
Well, it is beginning to sound like a cliche’ when talking about the weather potentially being the thing that slows the property market; the colder weather, the wet, the wind, winter in general. It hasn’t seemed to impact it yet and the weekend that was, certainly tested us. With over 9,000 calls made to emergency services, major … More Real Estate Market Commentary 4th JUNE
Just a quick note to update regarding sale prices for property sales disclosed on the Upper North Shore in May. … Wahroonga total: $28,173,400 sold at a median of $1,565,188 Turramurra/Warrawee total: $28,204,000 sold at a median of $1,566,888 Pymble/West Pymble total: $15,967,500 sold at a median of $1,774,166 St Ives total: $35,994,888 sold at … More SALE PRICES, LATELY
It feels strange to finally say this, but one of the banks has banned lending to ‘foreign buyers’. I wonder if this is driven by the noise from buyers being ‘pushed out of the market’ or based on their risk mitigation practices, but AMP has now said ‘NO’. It may be expressed as a sympathy … More Real Estate Market Commentary MAY 28th
Another strong week of reporting. In short; The Government is still throwing around ‘popular’ solutions for ‘fix’ the housing market. There is still speculation of lower interest rates. Foreign buyers are back in the spotlight. And, Winter has done nothing to cool the property market in Sydney. There was originally 573 Auctions scheduled to take … More Real Estate Market Commentary MAY 21st
Another weekend of back-burning on the Upper North Shore, chilled mornings and busy open homes. It was a weekend much like the one before and much like the year before, buyers are looking to buy and by the look of the Auction clearance rates, they’re buying! I don’t have numbers on open homes across the … More Real Estate Market Commentary MAY 14th
Yesterday, 9th May 2016, the Cash Rate futures (June 2016 Contract), that economists use as an indicator to speculate the chance of cash rate rises/cuts by the RBA, were trading at 98.315. This would suggest that there is a 34% chance at this stage of another rate cut, bringing the official cash rate down to … More 0% ?
Thomas Merriman 