Starting to stabilise | The Real Estate Wrap with Leanne Pilkington
Welcome to this week’s Real Estate Wrap with Leanne Pilkington, CEO and Director of Laing+Simmons and President of the REINSW.
There were 1,111 homes taken to auction across Sydney this week, compared to 1,150 last week and 309 this time last year.
There have been 939 auction results collected so far, returning a preliminary auction clearance rate of 80%.
Last week’s preliminary clearance rate was a higher 81.6%, which revised down to 78.9% at final figures.
Hey everyone, Leanne Pilkington here for the latest Real Estate Wrap week commencing May 24, and we are here at Taronga Zoo for the Laing & Simmons Leaders Forum. Wow, what a venue, definitely recommend it!
So, this weekend we had 1,111 properties that went for auction with a preliminary clearance rate of 80%.
Last week 1,150 properties with a final clearance rate of 78.9%.
So, we are seeing the market just starting to stabilise, so, not as many buyers in the market as there has been but that’s a good thing seeing it all starting to stabilise.
Boy, I’m having trouble with my words this morning!
Last year, same weekend 309 properties obviously still in the middle of COVID times.
This weekend, above 90% of clearance rate in Ryde. We had eight markets still though with a better than 80% preliminary clearance rate and our lowest clearance rate was 67.1% in Parramatta.
Have an awesome week!