Busiest auction week of the year | 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 expecting its busiest auction week of the year, with 1,169 auctions currently scheduled across the city.

Overtaking the week ending 29th October (1,071), this week’s scheduled numbers are up 14.6% from the week prior (1,020) and 50.3% above the auctions seen this time last year (778).

TRANSCRIPT:

Hi, everyone. Leanne Pilkington with you for the Real Estate Wrap week commencing the 20th of November.

This week, 1,081 properties with a preliminary clearance rate of 68.7%, which is down on last week’s clearance rate but numbers are still relatively strong.

Last weekend, we had 1,020 properties go out for auction and our final clearance rate was 64.2%, which is exactly the same clearance rate that we had same weekend last year.

So, 778 properties this weekend last year at 64.2%.

On the Central Coast, we had half of the 15 properties sold, not quite sure how that works but yeah.

Newcastle, we had 37 properties at 70.4%.

Illawarra, 36 properties at 73.5%.

And the Mountains, only 3 from 13 (properties).

Our highest clearance rate in Sydney with 79.1% in Ryde and our lowest was the Outer Southwest with only 46.7%

Hope you are having an awesome week.

We have got just five weeks till Santa. Oh, and yes, I have started my shopping.

I hope you have to have a great week.

See you next week. Bye.