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Busiest Auction Week Since Easter | The Real Estate Wrap with Leanne Pilkington

September 16, 2024 |
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Welcome to this week’s Real Estate Wrap with Leanne Pilkington, CEO of Laing+Simmons and President of the Real Estate Institute of Australia.

This week has seen a notable uptick in auction activity, providing key insights for property buyers, sellers, and investors navigating the current market. Here are the highlights:

  • Busiest Auction Week Since Easter: With 864 auctions in Sydney and a 70.6% preliminary clearance rate, auction volumes are up 16.2% from last week, showing strong buyer and seller confidence.
  • Next Week’s Surge: Sydney is set to host 918 auctions, a further 18.3% increase, and nationally, 2,800 homes will go under the hammer.
  • Regional Performance: Central Coast saw a clearance rate of 61.5%, Newcastle 76.2%, and the Blue Mountains a solid 84.6%, while Sydney’s Inner Southwest boasted the highest clearance at 83.3%.

Transcript

Hey everyone Leanne Pilkington with you for the Real Estate Wrap, the week ending the 15th of September. This weekend across Sydney we had 864 properties go for auction with a preliminary clearance rate of 70.6%. Last week it was 776 properties 65.9% clearance rate, and same time last year 927 with a 67.3% clearance rate. This week’s the busiest auction weekend across the country that we’ve seen since Easter, and we are certainly – in Sydney – expecting a significant increase in auction numbers next weekend and the weekend after in the lead-up to the October Labor Day long weekend. Central Coast we had 21 properties with a preliminary clearance rate of 61.5%, the mountains 17 at 84.6% – nice going, Newcastle 24 at 76.2%, and Illawarra 20 at 64.7% preliminary clearance. Our highest clearance rate across Sydney this weekend 83.3% in the inner Southwest, we also saw above 80% in Sutherland, our lowest was 43.8% in Baulkham Hills and the Hawkesbury. Have an awesome week, I’ll see you next week, bye.

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