Pete Wargent blogspot

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

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Saturday, 12 November 2016

No hell toupée

If there were any question marks about whether a US election result would stop people buying property in Sydney, it seems that there aren't now. 

The preliminary auction clearance rate increased from 77 per cent to 80.4 per cent this week.

This time last year Sydney was fading fast into the Christmas break with a clearance rate of only 56 per cent. 

The median auction price this week was also rock solid at $1,227,750 (while the median for houses only was $1,366,000). 

This is a crude measure based on a relatively small sample, to be sure, and from week to week the numbers will inevitably bounce around quite a bit. 

However, the 3 period average of $1.29 million is now at a level not previously seen, suggesting a strong finish to calendar year 2016.