Exciting Virtual Auctions | The Real Estate Wrap with Leanne Pilkington

July 5, 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.

In Sydney, 863 auctions were originally scheduled for this week, however preliminary figures show 11% have been rescheduled to a later date.

Of the 672 results collected so far, a preliminary auction clearance rate of 71.6% has been recorded while the withdrawal rate is sitting at 23%.

Of the 481 sold results 61.1% reportedly sold prior to the scheduled auction date.

Last week, the city saw 1,084 auctions take place with a final auction clearance rate of 77.5%.

TRANSCRIPT:

Good morning everybody! Leanne Pilkington here for the latest Real Estate Wrap week commencing the 5th of July. The very first week of the new financial year.

We had 863 properties scheduled to go to auction this weekend in Sydney. Obviously, lockdown came but only 11% of those were rescheduled and so far we’ve got a preliminary clearance rate of 71.6%.

61% of those properties actually sold prior but I can tell you, I heard some fabulous, fabulous online results for auctions over the weekend. So, there are lots of people actually bidding and buying property online over the weekend which is super exciting!

Last week, 1,084 properties went to auction with a preliminary clearance rate of 77.5%.

So, even though part of Sydney was locked down for last weekend it still went okay and in fact, the eastern suburbs had 64 auctions and a preliminary clearance rate of 75.4%. That was actually a final clearance rate so that was amazing. Well done to them!

Same weekend last year 580 properties went to auction with a 61.5% clearance rate.

Our friends in Melbourne, it’s business as usual in Melbourne. 1,067 auctions, preliminary clearance rate of 75.9%

Our highest clearance in Sydney was actually in the Central Coast 84% still on fire up there.

The Southwest was our lowest with only 39.3% clearance at auction. So, not sure what the story is behind that but we’ll check that out a little bit more.

Hope you all have a wonderful week and stay at home so that we can get out of this lockdown, okay? Okay, it’s up to you!

I’ll see you next week, bye!

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