Long weekend activity | The Real Estate Wrap with Leanne Pilkington

June 9, 2020 |
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Welcome to this week’s video edition of The Real Estate Wrap with Leanne Pilkington, Managing Director of Laing+Simmons and President of the REINSW.

As anticipated, the Queen’s Birthday long weekend had an impact on our auction numbers; 388 properties went to auction in Sydney and the preliminary clearance rate was 62.2 per cent. On the plus side, we out-performed the same week last year. It’s great to see that the return to the norm is more apparent through these results.

TRANSCRIPT:

Hey everyone, hope you had an awesome long weekend. The weather was sensational where I was up in Port Macquarie, although it took us 4 hours to get up there on Saturday and 6 and a half hours to get home yesterday, so that was not pretty. But it was an awesome weekend anyway!

So, here we are for the Real Estate Wrap. Week commencing June 8 which obviously was yesterday.

In Sydney we had 388 properties go to auction, which is more than half of the numbers around the country. Obviously, the numbers were impacted all over the place because of the Queen’s Birthday weekend. The 388 properties, the preliminary clearance rate in Sydney was 62.2 per cent.

Same weekend last year, we had 313 properties which is less than this year, which is something that hasn’t happened for a little while. And last year we saw 56.2 per cent of those clear.

Last Saturday, 452 properties went up last Saturday with a clearance rate of 63.9 per cent.

Median house price sale was 1.425 million. Now that was homes, not apartments. And 83 of our properties sold prior to auction in Sydney.

So let’s see what next week brings with those all-important numbers. I hope you have a sensational week and I’ll check in with you again next Monday. Bye!

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