Racing through the numbers | The Real Estate Wrap with Leanne Pilkington

November 2, 2020 |
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Welcome to this week’s Real Estate Wrap with Leanne Pilkington, Managing Director of Laing+Simmons and President of the REINSW.

According to CoreLogic, 864 homes were taken to auction this week in Sydney, with a preliminary clearance rate at 79.6 per cent. This is a welcome increase from last week’s 700 auctions, and the final clearance rate for these was 80.4 per cent. This time last year, 843 homes went to auction with a 74.6 per cent clearance rate. The Northern Beaches was our best performing region with a 90.3 per cent clearance rate.

Despite the Melbourne Cup tomorrow, Melbourne performed admirably with 604 properties going to auction this weekend with a preliminary clearance rate of 75 per cent.

TRANSCRIPT:

Hey everyone, Leanne Pilkington here for the Real Estate Wrap for the week commencing November the 1st. Oh my goodness!

A bit of a different background today. I am out at Laing+Simmons St George, I love this room down here!

Anyway, we had a big weekend of auctions again in Sydney. 864 properties went to auction with a preliminary clearance rate of 79.6 per cent.

If we compare that to last week we had 700 properties with a final clearance rate of 70.4.

And the year before, 843 properties with a clearance of 74.6 per cent, so we’re pretty much tracking very similar numbers and results as same time last year.

In Melbourne, our friends in Melbourne, oh my goodness! 604 properties went to auction in Melbourne which is very high for this time of year, because of course we’ve got the Melbourne Cup carnival. So normally that impacts. Last year for example, only 255 properties went to auction in Melbourne this weekend last year. So much better with 604 and a 75 per cent clearance rate.

Northern Beaches again in Sydney absolutely nailed it. It’s really busy out there! 90.3 per cent preliminary clearance, and our lowest clearance rate was Sutherland at 56.5.

So it’s going to be interesting to see this run up to Christmas now. Can you even believe we’re talking about that?

Anyway, have an awesome week and I will speak to you next week! See ya!

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