Long weekend results | The Real Estate Wrap with Leanne Pilkington
Welcome to this week’s Real Estate Wrap with Leanne Pilkington, Managing Director of Laing+Simmons and President of REINSW.
Sydney held 435 auctions over the long weekend, with a preliminary clearance rate of 73.2 per cent. In addition, Sydney accounted for 66 percent of all auction activity across Australia over the weekend. This time last year, Sydney recorded a final clearance rate of 74.75 per cent, across a lower 317 auctions. We had above 80 per cent clearance rates in Inner South West, Inner West and in Sutherland.
Hey everyone, Leanne Pilkington here for the Real Estate Wrap for the week commencing October 5 and what a fabulous long weekend it was for us here in Sydney.
As we would expect, long weekend, beginning of school holidays, auction numbers were down over last week. We had 435 auctions. Actually, 66 per cent of the auctions that happened around the country were in Sydney this weekend. So 435 with a preliminary clearance rate of 73.2 per cent.
Last week, we had 812, so a lot of people were getting in before the long weekend obviously. Same weekend last year, numbers were right down again. 317 properties for a 74.75 per cent clearance rate.
Melbourne, we only had 57 auctions, a third of those were withdrawn from sale and about a third of them were sold, but the vast majority of them actually sold before auction.
We had a few areas with 80 per cent and above preliminary clearance rates over the weekend. They were the Inner West, the Inner South West and Sutherland, and our South West was our lowest with 58.3 percent.
Hope you have a wonderful short week and I’ll catch up with you again next week. Bye!