A positive weekend | The Real Estate Wrap with Leanne Pilkington

August 24, 2020 |
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Welcome to this week’s Real Estate Wrap with Leanne Pilkington, Managing Director of Laing+Simmons and President of REINSW.

632 properties went to auction this week in Sydney, returning a preliminary auction clearance rate of 71.9 per cent. ┬áThis was an improvement on last week’s 61.9 per cent clearance rate. Central Coast, Baulkham Hills, Hawkesbury, Inner South and the Inner West displayed the strongest clearance rates over the weekend.

Across neighbouring states, ACT had an 87.8 per cent prelim clearance rate and Melbourne sits at 50 per cent. Despite the tough restrictions in Melbourne, the deals haven’t stopped!

TRANSCRIPT:

Hey everyone, Leanne Pilkington here for the Real Estate Wrap for the week commencing August 24th.

Good weekend in Sydney this weekend! We had 632 properties go to auction with a preliminary clearance rate of 71.9 per cent, which is up on last week’s final clearance rate of 61.9 per cent on 668 auctions. Same weekend last year, 503 properties went to auction for a 78.1 per cent clearance rate last year.

The ACT enjoyed an 87.8 per cent preliminary clearance which is huge. And Melbourne, they actually did sell 50 per cent of the 223 properties that went to auction. So very tough down in Melbourne at the moment but there are still some deals being done.

In Sydney we had a number of regions that enjoyed 80 per cent or above clearance rates. Central Coast, Baulkham Hills, Hawkesbury, Inner South and the Inner West had 89.5 per cent, so a lot going on in the Inner West, and the South West was our lowest at 59.1 per cent.

Hope you all have an awesome week and I’ll catch up with you next week. Bye!

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