Clearance rates show positive early signs | The Real Estate Wrap with Leanne Pilkington
Welcome to this week’s Real Estate Wrap with Leanne Pilkington. According to The Sydney Morning Herald this weekend, agents have noticed that “buyers are shrugging off negative commentary about the state of the housing market and displaying a greater preparedness to make decisions.”
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Hi, welcome to the Real Estate Wrap for the week commencing 11th of February 2019 – second week, really, of the market in Sydney for the 2019 year and surprisingly, we saw a little bit of a recovery in clearance rates.
The preliminary rate was 59.2 per cent which is up quite a bit from prior to Christmas. Whether that holds up in weeks to come, we really don’t know, although what was interesting was we saw an interview with the CEO of Mirvac saying that, in fact, we expect 110,000 people to be moving into Sydney and Melbourne in the next 12 months and Mirvac are gearing up for an under supply of property. Can you even believe that they’re talking about that?
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