Pete Wargent blogspot

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

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Monday, 22 February 2016

Hammer time


Just following on from the blog post of a couple of days ago on Sydney's multi-speed property markets, CoreLogic-RP Data reported a very strong preliminary auction clearance rate of 77.2 per cent for Sydney this week.

Source: CoreLogic-RP Data

As widely expected, however, there were sizeable variations between the sub-regions, with Blacktown (43.8 per cent) and Baulkham Hills & Hawkesbury (50 per cent) struggling along, and notably lower volumes.

On the other hand many inner suburbs recorded very strong results indeed, including City & Inner South (88.2 per cent from a total of 85 auctions) and the Eastern Suburbs (88.0 per cent from a total of 93 auctions).

Domain Group categorises sub-regions slightly differently, and recorded a rip-snorting 90.4 per cent for City & East from its sample of 66 sales, but only a 42.9 per cent clearance rate for the West.