Sydney’s Hot Lower North And City And East Dominate Auction Markets
The Sydney home auction market produced more positive results for sellers generally on Saturday with published results clearance rates continuing to track above 60%.
Despite election distractions, Sydney recorded a weekend clearance rate of 62.5% which was slightly down on the previous weekends 64.3% and the same weekend last year’s 63.5%.
Auction numbers were however lower again at the weekend impacted perhaps by the election but certainly continuing the trend of significantly lower listings compared to the same time last year.
Sydney’s weekend median auction price of $1,058,500 was lower than the previous weekends $1,200,000 and 12.6% lower than the same weekend last year’s $1,211,250.
Although overall clearance rates remain positive, Sydney’s regional results reveal a wide disparity in buyer activity.
The inner suburbs continue to produce strong results for sellers with the Lower North and City and East again recording weekend clearance rates over 80%.
By contrast the South, South West, West and Canterbury Bankstown were again all below 50%.
The unit market recorded a robust clearance rate of 70.9% at the weekend with a median of $805,000 with houses at 59.2% and a median of $1,301,000.
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