Christmas rush | 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.
In what was essentially the last full week of action, a sense of urgency characterised the real estate market over the last seven days. Buyers across the suburban pockets were keen to secure a purchase before the year draws to a close.
We’ll be back in a few weeks’ time. Let’s hope the real estate market comes back too, just as it has left off.
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Hi everyone, Leanne Pilkington here for the very last Sydney Real Estate Wrap for 2019, on the week commencing December 16.
So, auction volumes were down across the country by about 5.6 per cent. Hardly surprising given that we are so close to Christmas. We had 846 auctions with a prelim clearance rate at 73.6 per cent.
Last week we had 976 auctions and our clearance rate around about 73.8 per cent. So both volumes and clearance down slightly over last week, however last year same weekend last year we had 723 auctions with only a 38.8 per cent clearance. So clearly the strength in the market has continued in comparison to last year.
Pretty much auctions are now almost over for the year. In fact, February is when most auction markets start to come back.
And so that being the case we’re going to wish you all the best for an incredible Christmas, a wonderful start to the new year and we’ll be back with our next Real Estate Wrap in February. See you then. Bye!