Hopping through Easter | The Real Estate Wrap with Leanne Pilkington
Welcome to this week’s Real Estate Wrap with Leanne Pilkington, CEO and Director of Laing+Simmons and President of the REINSW.
According to CoreLogic, Sydney recorded a preliminary auction clearance rate of 82.8% this week as volumes rose. There were 814 auctions held across the city, up on the Easter week’s 404 auctions held when an 82% success rate was achieved according to final figures.
One year ago, 413 auctions were held and a 32.1% clearance rate was recorded. It was not only Easter which dampened auction activity this time last year, but also the imposition of social distancing measures which included the banning of on-site auctions.
Leanne Pilkington here for the Real Estate Wrap, week commencing April 11.
This weekend we had 814 properties go to auction with a preliminary clearance rate of 82.8%. Obviously we’re only a week out from Easter and in the middle of school holidays which always impacts volumes.
Last weekend Easter Saturday, we saw 404 properties go to auction with a final clearance rate of 82%. Same weekend last year in the early stages of the pandemic, 413 properties for just a 32.1% clearance. What a difference a year makes!
We had better than 90% preliminary clearance rates in Baulkham Hills, Hawkesbury, Eastern Suburbs and the Northern Beaches, and as we’ve heard in the media the three months to March, national prices were up by 5.8%, the fastest quarterly growth since October 2003, and the high end is leading the charge in Sydney with the top 25 growing by 8.8%. Wow!
Have a great week everybody, I’ll see you next week!