Pete Wargent blogspot

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

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Saturday, 26 September 2015

2-speed Sydney

Dr. Wilson at Domain noted this week that Sydney's auction market is becoming a "two speed affair" with the lower priced outer suburban regions now evidently struggling.

On the other hand Sydney's Eastern Suburbs have been tracking very strongly in recent weeks.

Anything with a Bondi handle was seemingly selling like hot cakes this week.

There we also some ripsnorting results seen in Surry Hills, Darling Point, Maroubra and Bronte in particular, as well as some other prime suburbs to the east. 

Although there has been a swathe of commentary stating that the Sydney "boom is over", CoreLogic-RP Data does appear set to report a big improvement in its preliminary auction clearance rate to 74.2 percent, up from 70.7 per cent last week.