Real Estate Wrap with Leanne Pilkington | 3 February 2025
Real Estate Wrap with Leanne Pilkington.
Welcome to this week’s Real Estate Wrap with Leanne Pilkington, CEO of Laing+Simmons and President of the Real Estate Institute of Australia.
The real estate market is showing signs of recovery as we kick off 2025, with auction activity on the rise and clearance rates improving.
Highlights:
- Auction numbers are up: 461 properties went under the hammer this week, a significant increase from the holiday period.
- Sydney’s clearance rate climbs: The preliminary clearance rate hit 67.5%, up from last week’s final rate of 54.2%.
- Regional markets vary: Newcastle shines with a 90.5% clearance rate, while other areas show mixed results.
While activity is picking up, it’s still below last year’s levels, suggesting a more balanced market with opportunities for both sides of the transaction. For buyers, there might be less competition than last year, potentially creating opportunities to snag a great property. Sellers, while there’s plenty of action, you might need to adjust your expectations slightly from the boom times of early 2024. Investors, keep a close eye on these numbers – they’re like a weather vane for the market.
Stay informed with our weekly updates.
Transcript
Hey everyone Leanne Pilkington, with you for the first time in 2025 for the Real Estate Wrap, week ending the 2nd of February. So, this week 461 properties went up for auction preliminary clearance rate was at 67.5% which is up on last week, we only had 59 properties at a 54.2% final clearance rate, now of course it was the long weekend so that’s no big surprise. Last year 583 properties at a final clearance rate of 70.6%. Up on the Central Coast, very slow weekend only 2 from 5, Newcastle though was great 26 at a 90.5% preliminary clearance rate. Illawarra 4 from 10, and only 12 properties at a 30% clearance rate up in the Blue Mountains. So we had great inflation numbers last week and so as a result the market have priced in an interest rate cut in a couple of weeks in February, but let’s wait and see, we’ve still got to get our Christmas spending numbers, we’ve still got some job numbers to come in so it’s still two weeks to go before RBA will actually make that announcement so fingers crossed. Have an awesome week, see you soon bye.
