Busiest auction week since Late June | The Real Estate Wrap with Leanne Pilkington

September 20, 2021 |
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Welcome to this week’s Real Estate Wrap with Leanne Pilkington, CEO, and Director of Laing+Simmons and President of the REINSW.

Sydney enjoyed its busiest auction week since Late June, with 796 auctions held in in the harbour city, compared to 661 the previous week and 677 over the same week last year.

Of the 693 results collected so far, 82.3% were successful.

Last week, Sydney’s preliminary auction clearance rate was slightly higher (83.8%), revising down to 82.8% at final figures, while this time last year, 67.5% of reported auctions were successful.

TRANSCRIPT:

Hey everyone, Leanne Pilkington here for the Real Estate Wrap week commencing September 20.

This weekend 796 properties went up for auction with a preliminary clearance rate of 82.3%.

Last week, 661 properties with a final clearance rate of 82.8%.

Same weekend last year 677 properties at a final clearance rate of 67.5%.

So, as you can see auction numbers are trending higher despite the lockdown conditions that we still have in Sydney and prices are trending upwards with CoreLogic data talking about the fact that prices have gone up in Sydney by $311 per day since the beginning of the pandemic which is just a bit crazy, right?

We just don’t know where this is all going to end highest clearance rate this weekend or preliminary clearance rate this weekend was Baulkham hills and Hawkesbury at 89.7%.

The Southwest was our lowest unsurprisingly, with those tough lockdown conditions but still a 64.7% preliminary clearance rate which is still pretty strong.

Our friends in Melbourne, 565 properties despite the fact that you can’t even do inspections down there. 56.4% preliminary clearance rate, which is better in numbers and clearance from the week before. Now they’ve had some real changes down there in Melbourne so that should start to reflect on the numbers as of next week although agents aren’t allowed in the house with their clients.

So basically they’re dormant, they can open the door and let one person in and that’s about it but at least people are able to start going in and doing those inspections.

Anyway, have an awesome week.

I’ll see you soon, bye!

 

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