Sydney’s weekend home auction market concluded winter with clearance rates clearly on the rise as the local market continues to shake off recent coronavirus restrictions and the associated impacts of a weaker economy. Sydney recorded a weekend auction clearance rate of 68.1% over August which was marginally higher than the 65.0% reported over July but…
Articles by Dr. Andrew Wilson
Dr Andrew Wilson, of www.MyHousingMarket.com.au is Australia’s leading property economist.
The ABS reported a sharp increase in dwellings approved over November compared to October. Capital city building approvals increased by 19.7% to 11,781 – the highest monthly result since May. November’s sharp increase however reflected the previous months low result of 9840 dwelling approvals – the lowest since January. Surging unit approvals were a major…
ABS owner-occupied home loan activity seasonally adjusted increased for the sixth consecutive month over November, reflecting the general housing market revival over the second half of 2019. Owner-occupiers have clearly driven the recent surge in home buyer activity in most markets with investors still relatively subdued. The value of lending for owner-occupied dwellings increased by…
The Melbourne housing market recorded a sharp turnaround over 2019 with strong market conditions prevailing over December. Weekend auction clearance rates soared over the year with December’s 75.5% result significantly higher than the record low 44.8% recorded over December 2018. Prices Now Rising Strongly. Bom-time auction clearance rates have translated into strong prices growth with…
The Sydney housing market has completed a remarkable turnaround in 2019 recording record boomtime results over December. Weekend auction clearance rates have soared over the year with December’s 77.8% result a record Sydney high for that month and well ahead of the December 2018 rate of just 43.1% – conversely a record monthly low result….
Latest ABS residential lending data predictably reported a sharp increase over July reflecting the initial impact of consecutive rate cuts, an easing of lending conditions and rising confidence. Lending for owner-occupiers seasonally adjusted increased by 4.2% over the month – the fastest monthly increase for 5 years. The surge in lending shouldn’t surprise give the…
Home auction markets reported generally solid to strong results for most sellers at the weekend upon resumption of full activity following the previous weekend’s Queens Birthday Holiday break. Sydney and Melbourne continue to record their highest local clearance rates for over a year with Sydney auction clearance rates remarkably surging beyond 70 percent for the…
Auction clearance rates generally fell away at the weekend following the relatively robust results recorded over the previous two weekends. Low auction numbers contributed to weaker clearance rates with both buyers and sellers distracted by the Queens Birthday long weekend holiday. Following this year’s trend, listings were again well below the numbers auctioned over the…
Home auction market buyer activity surged again on Saturday following last weekend’s post-election bounce, with another increase in clearance rates but a sharp decline in listings. Auction listings at the weekend were back to the relatively low levels recorded for most of the year so far with still-wary sellers continuing to avoid the market and…
Our home auction market activity rebounded strongly at the weekend following the end of the lengthy federal election campaign and the re-election of the Morrison government. The significant changes to property taxes as proposed by the Labor Party are clearly off the table which will aid in reviving recently subdued buyer and seller confidence. The…