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Busiest Auction Week since March | The Real Estate Wrap with Leanne Pilkington

September 23, 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.

Spring is heating up, and so is the property market! In this week’s real estate wrap, Leanne Pilkington, CEO of Laing+Simmons and President of the Real Estate Institute of Australia, shares key updates about auction activity across Sydney and New South Wales. As the season progresses, buyers, sellers, and investors should stay informed to make the most of market conditions. Here’s what you need to know:

Key Highlights:

  • Auction Volume Surge: This week is set to be the busiest since March, with 2,786 auctions taking place, a 13.4% increase from last week and 5.2% higher than this time last year.
  • Sydney Leads the Way: Sydney will see 1,061 homes up for auction, a massive 21.7% increase from last week, marking the second busiest week of 2024 so far.
  • Regional Market Variability: Central Coast, Newcastle, Blue Mountains, and Illawarra regions are showing fluctuating clearance rates, with the highest being 84% in Baulkham Hills and Hawkesbury and the lowest at 54.6% in the Outer South West.

For buyers, sellers, and investors, these insights are critical. Increased auction volume offers buyers more choice, while sellers can benefit from strong competition. Investors should keep an eye on regions with rising clearance rates for potential opportunities.

Stay informed with our weekly updates.

Transcript

Hey everyone, real estate wrap for the week ending the 22nd of September as we expected a few more properties came up for auction this weekend, 995 in Sydney at a preliminary clearance rate of 70.3% last weekend 872 with a final clearance rate of 63.2% and same weekend last year 1,107 at 70% final clearance rate, so we’re tracking a bit below same time last year, expect that we’ll see a few more properties online again next week and then of course we’ve got the long weekend so that usually means a drop in numbers for that weekend. So Central Coast 21 properties at only 40% it’s very up and down on the Central Coast at the moment, Newcastle 30 properties at 65%, Blue Mountains 13 properties at 70% and Illawarra 18 properties at 62.5% preliminary clearance rate, our highest clearance rate across Sydney was 84% in Baulkham Hills and the Hawkesbury, our lowest was 54.6% in the outer South West. Hope you have an awesome week see you next week bye.

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