Too much, too soon? Not for today’s vendors | The Real Estate Wrap with Leanne Pilkington

September 16, 2019 |
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Welcome to this week’s Real Estate Wrap with Leanne Pilkington, Managing Director of Laing+Simmons and REINSW President.

It’s been another stand out week for real estate in New South Wales. In greater Sydney and key regional markets, property is selling well, and fast. Clearance rates are strong and have been for many weeks now but, of course, not all markets are suited to auctions. Private treaty sales are attracting lots of interest too, and agents are definitely feeling the mood shift this spring.

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

TRANSCRIPT:

Hi everyone Leanne Pilkington here. Week commencing the 16th of September for The Sydney Real Estate Wrap.

Another big weekend 80.3% preliminary clearance rate over 580 auctions according to the CoreLogic figures. Last week we finished up at 75.7% for 528 auctions. So auction numbers are up a little bit. But when you consider that this time last year we had 669 auctions still short of stock and that is what is fueling those incredible clearance rates. And we expect that that’s going to continue over the next few weeks at the very least.

Over the weekend you would have heard the news that a lot of Sydney suburbs are actually seeing quite significant price growth. Across Sydney on average is a 13.3% drop from the height of the market back in July 17. But there are some parts of Sydney that have grown significantly. So it’s definitely worth having a chat to your agent just to see what their view of the current market conditions in your area is.

If you are thinking about selling before Christmas, hard to believe but all my team have put their Christmas holidays in already – Christmas is not that far away. So if there’s something you want to do, you really need to be speaking to your agents soon. Anyway, lots more detail as usual. Click here and download the Real Estate Wrap. See you next week.

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