The colour on the economic canvas | 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
With spring upon us, housing could just be the bright spot on an otherwise bleak economic landscape. Residential housing is providing a burst of colour to the canvas. Perhaps those rate cuts have worked in this respect. Clearance rates – again – were in the vicinity of 80%. The prices achieved were even more impressive.
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Hi, everyone, Leanne Pilkington here for the Sydney Real Estate Wrap for the week commencing September 2nd. We had another great weekend of auction clearance rates with 584 properties going to auction, clearance rate preliminary clearance rate. According to CoreLogic of 78.9% last week. We had five hundred and three auctions.
So we have got a increases that we’re seeing week on week for the auciton numbers, but still there’s not a lot of stock around which is driving strong prices above reserve results. The Reserve Bank will make a call on interest rates tomorrow. We think probably it will be on hold, but we’ll wait and see. And let me say if it’s been a little while since you last spoke to your bank about interest rates go and see them! I managed to get a half a percent decrease in my interest rate just by having a really simple conversation with the bank. So give it a whirl! As always more information here click on the link, and we’ll catch you next week. Bye.