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Thursday, 28 April 2016

Sydney auctions rebound

It is generally felt that Sydney's housing market is cooling right now.

That said, CoreLogic's final auction clearance rate for Sydney last week was strong at 77.4 per cent from 643 auctions, well ahead of Melbourne at 71.4 per cent from 602 auctions.

At the sub-regional level Sydney's Eastern Suburbs recorded a massive result at 92.9 per cent from the highest number of auctions.

Certainly there still remains a high level of competition in the east, and overall not that much quality stock on the market.



Source: CoreLogic-RP Data

There will be more scheduled auctions in Sydney this weekend (763), and many more in Melbourne (1,233), which should produce a stiffer test.