Momentum matters | 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. We are seeing momentum in the market with more encouraging auction clearance rates, more first home buyers emerging and more signs that the price decline cycle is nearing its end.
Find out more in The Real Estate Wrap for this week by clicking here.
Hi, it’s Leanne Pilkington here for the Real Estate Wrap week commencing June 17.
As you can see, I am not in Sydney. I am in the beautiful island of Lembongan. Part of Indonesia, not far from Bali with the fabulous Mount Agung in the background. Let’s hope it stays as quiet as it is now.
Plenty of bintang in Lembongan, but serious shortage of hair dryers!
But anyway…this weekend, on Saturday we saw prelim clearance rates at around mid-70s. 74.7 per cent.
When that number settles with the rest of results coming through, we are likely to have the best result that we have seen since April of last year. But we have to remember that’s off small auction numbers still.
We’re not calling a recovery just yet. We are just hoping that the market is going to continue to stabilise and prices are hopefully at their lowest.
Our hearts really go out to those owners and tenants of the property in Mascot that you had to be evacuated from over the weekend. We really hope you find a solution to that very, very soon.
Anyway, as usual, all the details are here. Please just click to download and I’ll see you next week back in Sydney.