Sydney auction scene still running hot: Pete Wargent

Lest there was any doubt about the hot Sydney property market continuing into the chilly winter months...

Another near-record 78% clearance rate at the weekend to follow the previous weekend's 78%, which means that price gains might be expected to continue well into the coming months.

A bit of a dilemma perhaps emerging for the RBA, for an interest rate cut is probably needed to stimulate construction, yet this risks sending property markets such as Sydney into overdrive.

It may be a sacrifice they have to make, but they must also be wary given that Sydney prices are already well above previous record highs.

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On the subject of Sydney, an amazing 16-41 win for the British Lions.

I have to admit that no matter how long I live in Australia, and despite being an Aussie citizen, I'll always support the Brits - can't change that!

Ashes cricket starts on Wednesday and it is roasting hot over here near London. Can't wait...

Pete Wargent holds a range of finance and property qualifications and is the author of Get a Financial Grip – a simple plan for financial freedom.