Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Sunday, 26 July 2015

Hammer time for auctions

Strong auction results again this weekend, according to CoreLogic-RP Data.

For Sydney the preliminary clearance rate across the city this week increased, rising to 82.7 per cent from 79.7 per cent last week and 75.4 per cent at the same time last year. 

Sydney's reported clearance rate remains stronger than that of any other capital city.

There remain sub-regions across Sydney where the clearance rate remains above the 90 per cent mark.

These include Ryde, the Eastern Suburbs, the Inner West, and the City and Inner South.

Meanwhile, the Brisbane market continues to recover.

This week the Brisbane preliminary auction clearance rate was 66.0 per cent, compared to 60.2 per cent the previous week and just 44.7 per cent last year.

It's has been a long, slow recovery since 2010/11.