A festive market | The Real Estate Wrap with Leanne Pilkington

December 14, 2020 |
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Welcome to this week’s Real Estate Wrap with Leanne Pilkington, Managing Director of Laing+Simmons and President of the REINSW.

According to CoreLogic, 1,006 homes went to auction in Sydney this week, compared to 867 over the previous week and 875 this time last year. The preliminary clearance rate this weekend is 76.5 per cent, slightly down from last week’s preliminary clearance rate of 80.1 per cent. Our highest clearance rate was in the Hills district with 84.9 per cent.

Auction markets are usually winding down after the second week of December, so it’s great that we are seeing significantly higher activity coming into the festive season. Just one more weekend until Christmas!

TRANSCRIPT:

Hey everyone, Leanne Pilkington here for the Real Estate Wrap, week commencing December 14. So just one more weekend before Christmas, and as we expected, we are having a late finish to the year.

So this week, we had 1,006 properties go to auction across Sydney with a preliminary clearance rate of 76.5 per cent.

Last week we had 867. Our preliminary clearance rate of 80.1 settled at 74.1.

Last year, 875 properties went to auction. So we are, for the first time in a long time, we actually have more properties that went to auction this year than same time last year. So let’s hope that’s a sign of things to come.

The ACT had an incredible clearance rate of 87.2 per cent over the weekend which is awesome.

Melbourne, they only had 899 properties last week that went to auction. This week, 1,131 with a 73.5 preliminary clearance rate. So things are looking up a little bit for our friends in Melbourne.

Our highest clearance rate was in the Hills district with 84.9 per cent. But the Northern Beaches are still going gangbusters, 83.9 and also the South West had 83 per cent.

Our lowest clearance rate for the weekend was the Mountains; 58.3 per cent. And the Lake Macquarie area is still going really strong as well with 76.3 per cent.

So one more weekend until Christmas. Yes, we are sliding into the finish of 2020, and we are all happy for that. Take care and I’ll see you next week.

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