Pete Wargent blogspot

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

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Saturday, 20 February 2016

Sydney auction chasm


Sydney recorded a superficially strong final auction clearance rate last week of 78.1 per cent from a total of 513 auctions according to CoreLogic-RP data, eclipsing the 74.4 per cent clearance rate reported for Melbourne.

A closer inspection suggests a chasmic two-speed market has opened up in Sydney.

It is notable how both auction volumes and particularly clearance rates are low in some of the struggling areas, such as Baulkham Hills & Hawkesbury, Blacktown, the Outer West and Outer South West.

Source: CoreLogic-RP Data

On the other hand clearnace rates in some of the inner suburbs were very high indeed last week,.

Particularly see the results in the sub-regions of North Sydney & Hornsby (93.2 per cent), the City & Inner South (90.4 per cent), the Eastern Suburbs (91.8 per cent), and a number of others.