Pete Wargent blogspot

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

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Friday, 18 March 2016

Super Saturday

Quiet end to the week

No daylight saving time in Brisbane - it fades the cows and upsets the curtains.

Or was it the other way around?

In case it wasn't already obvious, there is no major news due out today, except for an RBA presentation on "Booms, Bust, Cycles, and Risk" from Luci Ellis which commences shortly. 

Super Saturday

This week will include a "Super Saturday" for property auctions, with a total of 3,369 capital city properties going under the hammer, the highest aggregate since November 2015.

The reasons for this include the "sandwiching effect" of recent public holidays in four of the eight states and territories, and of course the upcoming Easter break.

By far and away the greatest number of auctions this week will be held in Melbourne (1,701), followed by Sydney (1,074), and Brisbane (254).

Last weekend's final auction results saw rip-snorting auction clearance figures for some inner Sydney sub-regions, particularly the Eastern Suburbs (82.8 per cent from 87 results).

However, there were some considerably weaker results further out from the centre of the city, including Parramatta (44.4 per cent), the south west (44.1 per cent), Baulkham Hills & Hawkesbury (50 per cent), Central Coast (42.9 per cent), and the Hunter region came in at under 40 per cent.

Nothing at all sold at auction in the outer west & Blue Mountains region or in the outer south west.

Data from CoreLogic-RP Data.