{"id":5570,"date":"2024-08-05T12:21:31","date_gmt":"2024-08-05T02:21:31","guid":{"rendered":"https:\/\/lsre.com.au\/granville\/heading-text-the-real-estate-wrap-with-leanne-pilkington\/"},"modified":"2024-08-05T15:39:25","modified_gmt":"2024-08-05T05:39:25","slug":"the-real-estate-wrap-5aug2024","status":"publish","type":"post","link":"https:\/\/lsre.com.au\/granville\/videos\/the-real-estate-wrap-5aug2024\/","title":{"rendered":"Auction activity is cooling down | The Real Estate Wrap with Leanne Pilkington"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"The Real Estate Wrap \u2013 Week Commencing 5th August 2024\" width=\"1080\" height=\"608\" src=\"https:\/\/www.youtube.com\/embed\/2N4qOvdm3As?feature=oembed&#038;modestbranding=1&#038;showinfo=0&#038;rel=0\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>Welcome to this week\u2019s Real Estate Wrap with <a href=\"https:\/\/lsre.com.au\/agents\/leanne-pilkington\/\">Leanne Pilkington<\/a>, CEO of Laing+Simmons and <a href=\"https:\/\/reia.com.au\/about\/board\/\">President of the Real Estate Institute of Australia<\/a>.<\/p>\n<p>Sydney&#8217;s auction activity is down due to the upcoming Bank Holiday long weekend. With fewer properties on the market and a slowdown in home value growth, there are some notable shifts happening. Here\u2019s what you need to know:<\/p>\n<p><strong>Key Takeaways:<\/strong><\/p>\n<ul>\n<li>627 auctions scheduled in Sydney this week \u2013 a drop from 721 last week, influenced by the Bank Holiday long weekend.<\/li>\n<li>Home value growth is slowing \u2013 Sydney\u2019s quarterly growth rate has decreased to 1.1%, down from 5.0% this time last year.<\/li>\n<li>Next week is expected to see a rise in auction activity, with around 1,860 capital city homes set to go under the hammer.<\/li>\n<\/ul>\n<p>Stay informed with our weekly updates.<\/p>\n<h3>Transcript<\/h3>\n<p>Hey everyone, Leanne Pilkington with you for the Real Estate Wrap week ending the 4th of August. Gosh okay this week, this weekend 594 properties went up for auction at a preliminary clearance rate of 69.4% so that is only the second time this calendar year that we have seen preliminary clearance rates below 70% and obviously auction numbers are lower, we are going to see lower numbers over the next few weeks although I&#8217;m hearing that Spring there are a lot of people prepping to sell in Spring so let&#8217;s see what the next month or so brings. Last weekend, 729 properties with a final clearance rate of 68.5%. Same weekend last year was 692 properties at a final clearance rate of 63.4%, Central Coast only sold 1 from 11, the Blue Mountains 13 properties at a 63.6% preliminary clearance rate, Newcastle 25 at 61.9%, and Illawarra also 25 at 66.7%. Our lowest clearance rate was 60% Baulkham Hills, Hawkesbury and Sutherland, and our highest was 86.7% at Ryde. Have an awesome week and I&#8217;ll see you next Monday, bye.<\/p>\n<p>Source: <a href=\"https:\/\/www.corelogic.com.au\/news-research\/news\/2024\/auction-market-preview-4-august-2024\">CoreLogic Australia<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome to this week\u2019s Real Estate Wrap with Leanne Pilkington, CEO of Laing+Simmons and President of the Real Estate Institute of Australia. Sydney&#8217;s auction activity is down due to the&#8230;<\/p>\n","protected":false},"author":485,"featured_media":5571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"_acf_changed":false,"footnotes":""},"categories":[17,21,4373,18,4368,20,16,4312],"tags":[],"class_list":["post-5570","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-buying","category-investors","category-landlords","category-lifestyle","category-lsre-news","category-market-news","category-selling","category-videos","post_format-post-format-video"],"acf":[],"_links":{"self":[{"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/posts\/5570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/users\/485"}],"replies":[{"embeddable":true,"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/comments?post=5570"}],"version-history":[{"count":1,"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/posts\/5570\/revisions"}],"predecessor-version":[{"id":5572,"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/posts\/5570\/revisions\/5572"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/media\/5571"}],"wp:attachment":[{"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/media?parent=5570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/categories?post=5570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/tags?post=5570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}