News

Ray White Auction

By Melody Tsang

A warm winter market

Despite one of the wettest Sydney Saturdays on record the clearance rate has risen once again. Reported at 77 per cent this week should come as no great surprise given the strength seen in to date. Carolyn Boyd of domain.com.au wrote “There’s two main factors: record low interest rates and low listing levels. We are now moving towards the second half of the year [and] … there’s no indication that stock levels are going to rise and there’s no indication that interest rates are going to rise. Whilst those two remain low we suspect that auction clearance rates, certainly for the remainder of this year, will remain high.” Process is everything at the moment, skill is overrated. Make the calls.

Biggest result: $3,400,000 – 73 Albert Rd, Strathfield

Best Buying: $291,000 – 43 Eloura St, Dharruk

Facts for fodder NSW:

Total properties offered: 342

withdrawn: 30

Sold: 288

Clearance: 77%

Median: $820,500

Total value: $236,492,800

All figures & Statistics sourced from APM.
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