Consistent clearance | The Real Estate Wrap with Leanne Pilkington

July 13, 2020 |
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Welcome to this week’s video edition of The Real Estate Wrap with Leanne Pilkington, Managing Director of Laing+Simmons and President of the REINSW.

538 properties went to auction in Sydney on the weekend with a preliminary clearance rate of 62.6 per cent. 48 properties sold prior to auction, and 36 were withdrawn from sale. Our highest clearance rate was in Ryde at 73.9 per cent of the 44 properties that went up for auction. The lowest was in the Hills district where only 16 per cent of the 18 properties that sold.

TRANSCRIPT:

Hey everyone, Leanne Pilkington here for the Real Estate Wrap for the week commencing the 13th of July.

As you can see, I’m in the car. I am on the road. Davey and I are having a road trip up to see some of our offices up north, so very, very excited to be doing that!

Weekend, pretty consistent really. We had 538 properties go to auction with a 62.6 per cent preliminary clearance. Last week, we finished up with 61.5 per cent of the 580 properties selling. Same weekend last year, we only had 316 properties go up for auction, with a clearance of 72.8. So that’s the lower the supply, the higher the clearance rate, right?

We had 48 properties sell prior to auction this weekend, and 36 of them were withdrawn from sale. Our highest clearance rate was in Ryde with a preliminary clearance rate of 73.9 per cent of the 44 properties that went up for auction.

The lowest was in the Hills district where only 16 per cent of the 18 properties sold.

So, it’s that old story. You have to be very specific about what’s going on in your area if you’re looking to buy or sell.

You can’t really take a lot of notice of what’s going on across the country or even across Sydney. You need to drill in and find out exactly what’s going on in your particular market.

Have an awesome week everybody and I’ll see you next week.

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