Preliminary clearance rate is a little bit higher than last week | The Real Estate Wrap with Leanne Pilkington
Welcome to this week’s Real Estate Wrap with Leanne Pilkington, CEO of Laing+Simmons and Deputy President of the Real Estate Institute of Australia.
Sydney is set to host the busiest auction market this week, with 1,161 homes scheduled for auction.
Up 8.4% week-on-week, this week is set to overtake last week (1,071) as Sydney’s busiest auction week since mid-April 2022 (1,490).
This time last year, the city saw 704 homes go under the hammer.
Hi, everyone. Leanne Pilkington with you for the Real Estate Wrap, week commencing the 6th of November.
This weekend across Sydney, there were 1,065 properties that went up for auction with a preliminary clearance rate of 71.9%.
Now that preliminary clearance rate is a little bit higher than the preliminary clearance rate from last week.
Last week, we had 1,071 properties, so just a few more than this weekend and a final clearance rate of 64.2%.
Same weekend last year, 704 properties.
So you can say there’s a significant difference between this year and last with a final clearance rate of 63.7%.
Central Coast, 39 properties at 75.8% (preliminary clearance rate) ,
The Mountains, 16 properties at 71.4% (preliminary clearance rate) .
And Newcastle, 24 properties with (preliminary clearance rate) of 64.7%
And the Illawarra, 24 properties at 52.6% (preliminary clearance rate) .
The highest clearance rate across Sydney was in Sutherland at 83.8% and the lowest was the Northern Beaches, 63.6%.
We are all bracing for another interest rate rise that will probably come through Melbourne Cup Day tomorrow.
Yeah, all we can do is see what happens, right.
Have a great week and good luck on the cup. If you are a horse racing supporter.
See you then. Bye.