Mercury rising | The Real Estate Wrap with Leanne Pilkington

November 4, 2019 |
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Welcome to this week’s edition of The Real Estate Wrap with Leanne Pilkington, Managing Director of Laing+Simmons and President of the REINSW.

House prices in Sydney are rising. Last week, CoreLogic released its latest Home Value Index which showed that nationally, prices rose 1.2 per cent during October, the fourth consecutive month of rises.

Sydney prices were up 1.7 per cent to lead the way with Melbourne (up 2.3 per cent), a result CoreLogic research director Tim Lawless put down in part to “the stimulatory effect of the lowest mortgage rates since the 1950s.”

Find out more in The Real Estate Wrap for this week by clicking here.

TRANSCRIPT:

Hi everyone, Leanne Pilkington here back at work and in fact in our brand new office space at JustCo in Pitt Street, Sydney.

So we just moved in over the weekend. Jackie Jones moved us in actually over the weekend. Anyway, here for the Sydney Real Estate Wrap for the week commencing November 4.

We’ve now had four consecutive months of price rises across the country. Sydney last month was 1.7 per cent. Clearance rates, the prelim clearance rates according to CoreLogic was 79.4 over 832 auctions.

So we’re up from the 771 auctions from last week. Results are still really, really strong. We are seeing more properties come on the market, which is great but still certainly not enough to quench demand.

As you know, we have got an interest rate meeting tomorrow with the Reserve Bank but no one’s predicting any interest rate cuts at this point

So anyway, lots more, click on the Wrap to check it out and I’ll see you next week. Bye!

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