Kicking off the week strong | The Real Estate Wrap with Leanne Pilkington

October 26, 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, 712 Sydney homes went to auction this week, returning a preliminary clearance rate of 80.4 per cent. Both volumes and clearance rates increased over last week’s results, where 704 homes were taken to auction, resulting in a final auction clearance rate of 69.1 per cent. During the same weekend last year, 771 properties went to auction with a final clearance rate of 74.3 per cent.

Melbourne had 505 homes taken to auction and a preliminary clearance rate of 72.6 per cent. This makes it the busiest week the city has seen since July, and also the largest number of auctions held across Melbourne on a grand final weekend historically.

Our best performing clearance rate this weekend was in the Northern Beaches, recording a preliminary clearance rate of 93.8 per cent.

TRANSCRIPT:

Hi everyone, Leanne Pilkington here coming to you from the car for this week’s Sydney Real Estate Wrap, week commencing the 26th of October.

This weekend, we had 712 properties go to auction with a preliminary clearance rate of 80.4 per cent. So that’s really quite strong.

Last week we had 704 properties go to auction with a final clearance rate of 69.1 per cent.

Same weekend last year, 771 properties with a final clearance rate of 74.3 per cent.

Our friends in Melbourne, how exciting! They had 505 properties go to auction, and that is the highest number of properties they have ever had on grand final weekend.

Obviously the grand final wasn’t in Victoria so that was great for them, and it’s the busiest weekend that they’ve had since July.

So they had a preliminary clearance rate of 72.6 per cent so hopefully the market is just going to rebound back which is really, really good news.

In Sydney, our highest clearance rate was in the Northern Beaches, preliminary clearance rate of 93.8 per cent in the Northern Beaches, unbelievable!

And our lowest was Sutherland with 68.6 per cent which is still, let’s face it, pretty good.

So hope you all have a wonderful week! Stay dry, take care and I’ll talk to you next week, which will be November if you can even believe it! See ya!

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