Downturns and upsides | The Real Estate Wrap with Leanne Pilkington
Welcome to this week’s Real Estate Wrap with Leanne Pilkington, Managing Director of Laing+Simmons and President of the REINSW.
With growing evidence suggesting the end of the price decline cycle is near and a Reserve Bank meeting on the horizon, both buyers and vendors should be paying attention to what’s going on in the market.
Find out more in The Real Estate Wrap for this week by clicking here.
Hi everyone, Leanne Pilkington here for the beginning of the new financial year, market wrap July 1, 2019. I cannot even believe we’re in a new financial year, but anyway!
Last weekend we had a preliminary clearance rate of 72 per cent. Sadly only over 503 auctions. So numbers of transactions are quite low, but the clearance rates are still quite strong as they have been for most of this year now.
We’ve got an interest rate call happening this week as well. Even money, whether it holds or goes down.
Interestingly, Domain are telling us that they think that the price decline in Sydney is all but over, the market will bottom out in Spring and they are predicting a 2 per cent increase in prices over the following 6 months.
Anyway, lots more detail in the Real Estate Wrap. Click here to download and we’ll see you next week.