Hammer time
All the big guns are calling for big gains in the housing market as clearance rates in Sydney have soared to nearly 80 per cent.
Volumes are very low at this time of year, of course.
Overall, the numbers look pretty patchy to me.
Some big results in the inner suburban markets, for sure, but overall median prices haven't been too dramatic.
Although, to be fair, clearance rates have previously tended to lead prices and then volumes.
Going forward markets will likely be led by sentiment as much as fundamentals.
Source: Shane Oliver, AMP
The housing market recovery will do what it does, and more so in some areas than others.
Rather than tediously focusing on this, I'm going to aim to explore some other ideas this week, starting with what the heck is going on with stock market valuations around the world.
