Pete Wargent blogspot

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

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Monday, 12 October 2015

Auctions rebound

Auctions bounce

CoreLogic-RP Data reported a rebound in preliminary auction clearance clearance rates, with increases in Sydney (to 72.8 per cent), Melbourne (74.1 per cent), and Brisbane (59.4 per cent).

Source: CoreLogic-RP Data

The trend in Brisbane improved slightly from 59.1 per cent last week and 48.8 per cent one year ago.

Source: CoreLogic-RP Data

Sydney's preliminary clearance rate of 72.8 per cent from an elevated number of 1,141 auctions remained strong, but the market is clearly now a two-speed affair with the western suburbs, north west and south west all having slowed in recent weeks.

The northern beaches recorded the strongest clearance rate this weekend (88 per cent), with the eastern suburbs (85.5 per cent) and city & inner south (81.9 per cent) all recording strong results.

The eastern suburbs have proven to be particularly strong performers of late.

Most properties with a Bondi tagline continue to sell well, while Bronte, Clovelly, Coogee, Darling Point, Maroubra etc. also remain rock solid...

The real blockbuster sales this weekend, however, were seen on the lower north shore, specifically in Chatswood, with the previous suburb record being swept away...twice.