‘Tis the season to be selling | The Real Estate Wrap with Leanne Pilkington

December 7, 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.

According to CoreLogic, 871 homes were taken to auction this week, compared to 886 over the previous week and 976 this time last year. The preliminary clearance rate this weekend is 80.1 per cent, increasing from the previous week’s preliminary clearance rate of 76.9 per cent and last year’s 73.8 per cent.

Newcastle and Lake Macquarie experienced 91.3 per cent clearance rates over the weekend, while the Eastern Suburbs, Inner West, North Sydney, Hornsby, Northern Beaches, Ryde and Sutherland had above 80 per cent clearance.

TRANSCRIPT:

Hi everyone, Leanne Pilkington here on a sensational Sydney summer’s day for the Real Estate Wrap, week commencing December 7.

This weekend just gone, 871 properties went up for auction with a preliminary clearance rate of 80.1 per cent.

I actually had a few friends selling properties over the weekend and they all sold and sold well over reserve for all of them. Really, really busy weekend!

Last week, we had 886 properties go up for auction. Initial preliminary clearance rate was 76.9, which was revised down to 72.5.

Same weekend last year, 976 properties at a clearance of 73.8, so we are still trending significantly below what we were this time last year, although not as bad as Melbourne.

Our friends in Melbourne had 874 properties go up for auction this weekend. Preliminary clearance rate of 73.6, but trending significantly lower than the 1,520 auctions they had same weekend last year.

A lot of our regions were above 80 per cent this weekend, so Eastern Suburbs, Inner West, North Sydney, Hornsby, Northern Beaches, Ryde and Sutherland all over 80 per cent. Our highest though was Newcastle and Lake Macquarie at 91.3 per cent. Busy, busy lead up to Christmas this year. It’ll be interesting to see if it goes a little bit longer than typically we see at this time of year and I get a feeling it just might.

Hope you have a wonderful week, I’ll see you next week. Bye!

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