Knowns and unknowns | The Real Estate Wrap with Leanne Pilkington
Welcome to this week’s edition of The Real Estate Wrap with Leanne Pilkington, Managing Director of Laing+Simmons and President of the REINSW.
It was a huge week for auctions nationally. CoreLogic numbers show there were 2610 auctions held in the capital city markets last week, an increase of 33 per cent on the week before, with 761 of them in Sydney.
Find out more in The Real Estate Wrap for this week by clicking here.
Hi everybody, Leanne Pilkington here for the Real Estate Wrap for Sydney for the week commencing the 28th of October and we have got just less than 2 months until Christmas, do you even believe it?
Clearance rates have still been high over the weekend. We’ve had a 79.7 preliminary clearance rate according to CoreLogic. Over 761 auctions. Last week, we finished up at 79.2 per cent and that was the highest final clearance rate since early 2017. So that’s amazing!
A year ago we had pretty similar numbers but we had less than half of the properties actually sell under the hammer. Melbourne was massive on Saturday, they had 1,528 auctions calling on their Super Saturday weekend and would you believe? 77.1 of them, the prelim rate, sold. So even though the numbers were high, the clearance rates were still strong.
In Sydney, our median price is up by 4.8 per cent and we are back over a million dollars for the median price in Sydney
Anyway, you can see I am live to you from a family cruise. We’re heading up the coast and so I’ll see you back in Sydney again next week. Bye!