Pete Wargent blogspot

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

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Sunday, 2 April 2017

Thump

Another big set of auction results in Sydney, with a preliminary clearance rate of 81.3 per cent recorded, though the final clearance rate will likely be some way lower than that. 

The median auction price was $1,325,000, about 9 per cent higher than a year ago and continuing a series of high results.


From the same weekend of last year the median auction price for houses was 7 per cent higher at $1,481,000, and the median auction price for units was 10 per cent higher at $942,500.

The impact of APRA's latest round of measures is still to come. 

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There will be some interesting news about this week, including the February figures for retail trade (modest) and for international trade (another surplus expected). 

Aside from the Reserve Bank's decision, probably the most closely watched release for me will be the building approvals figures tomorrow.

January figures are always all over the place due to the time of year, but these February numbers should give us a much better read on what's going on.