Halfway through Spring | The Real Estate Wrap with Leanne Pilkington

October 12, 2020 |
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Welcome to this week’s Real Estate Wrap with Leanne Pilkington, Managing Director of Laing+Simmons and President of the REINSW.

Sydney had 754 auctions this week according to CoreLogic, up from last week’s 430 auctions. It’s also up from this time last year, when Sydney held 733 auctions. The preliminary clearance rate for this weekend in Sydney is 73.1 per cent.

Sydney’s South West had the highest clearance rate this weekend, while the City and the Inner West had the lowest.

TRANSCRIPT:

Hi everyone, Leanne Pilkington here for the latest Real Estate Wrap for the week commencing October 12. Coming to you from the car out on the road as you can well see.

This week, we had 754 auctions in Sydney with a preliminary clearance rate of 73.1 per cent. Up on last week’s numbers, obviously last weekend being the long weekend we had 430 auctions with a preliminary clearance rate of 73.2 which was revised down to 65.8 per cent.

Same time last year, similar kind of numbers, 733 with a final clearance rate of 76.9 per cent.

Our most successful area, highest clearance rates: South West this week with 83.9 per cent. Our lowest clearance was still quite high at 65.4 per cent and that was the City and the Inner South. Our friends in Melbourne, boy, they’re still struggling.

There were only 60 properties that went to auction in Melbourne this weekend. About a third of those were withdrawn prior and the preliminary clearance rate is currently sitting at 59.6 per cent.

Half way through the month of October, how can that even be? So half way through Spring. Wow!

I’ll look forward to catching up with you on Monday of next week. Take care.

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