Pete Wargent blogspot

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

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Sunday, 23 April 2017

Sydney auctions

After Easter, Sydney posted its lowest preliminary auction clearance rate of the season at 75.6 per cent.

The median auction price was lower than we've seen in recent weeks at $1,110,000.

The clearance rate was still higher than the equivalent weekend last year at 68.8 per cent, but the number listed was higher at 506 compared to 422.

The median auction price for houses was broadly similar to the same weekend last year.

However, the median auction price for units was about 12 per cent higher, so there maybe some change in composition evident. 

Overall, with the median price flattening and auction listings rising, it looks as though regulatory measures to cool the market may be working.