Strength in troubled times | The Real Estate Wrap with Leanne Pilkington
Welcome to this week’s edition of The Real Estate Wrap with Leanne Pilkington, Managing Director of Laing+Simmons and President of the REINSW.
It’s an eventful week – not just in real estate! Interest rates somewhat unexpectedly went down on account of the rapid induce of coronavirus-related panic.
In terms of auctions, Sydney led the way nationally. CoreLogic data showed an 82.6 per cent preliminary clearance rate was achieved from 811 auctions, compared to 52.3 per cent from 701 auctions in the corresponding week last year. The weeks ahead will be interesting.
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Hi everyone, Leanne Pilkington here for the Real Estate Wrap week commencing March 9. Interest rate decrease last week, so historic lows for interest rates, it’s quite unbelievable really.
811 properties to auction on Saturday just gone. 82.6 per cent clearance rates with CoreLogic, so that’ll come down a little bit during the week. Last week we had more auctions, 1,087 last week with a clearance rate of 76.6 per cent. So auction numbers were down slightly around the country, mainly because there are public holidays in 4 states. This Monday in New South Wales not being one of them.
We have coronavirus fears around the country and around the world. Fights in supermarkets over toilet paper, it just beggars belief! But all things being equal, we just have to be smart. If you’re not well, stay home.
If you’re travelling, be prepared that you might have to self-isolate when you get home. Let’s see what next week brings. See you then. Bye!