Sydney slips below 60% as consistent performers struggle

Sydney slips below 60% as consistent performers struggle
Sydney slips below 60% as consistent performers struggle

Sydney's consistent performers, the eastern suburbs and northern beaches, both failed to hit a 70% clearance rate having been previously sitting nicely at 80% each last week.

They haven't both dropped below 70% since last year.

It was the inner west which was the stand out performer at 72%. It was the only sub-region to secure over 70%.

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Sydney slips below 60% as consistent performers struggle

Sydney dropped below 60% for the first time since late last year.

The rate did drop below 60 in the first weekend of February 2018, but only 200 auctions were scheduled, with no dwellings coming from the likes of the eastern suburbs and northern beaches.

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Sydney slips below 60% as consistent performers struggle

Auction volumes rose this week, with nearly another 800 dwellings up for auction.

There were 2,539 properties taken to auction this week compared to 1,799 last week.

The clearance rate nudged 0.3% higher from 62.2% to 62.5%.

 

 

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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Clearance Rate Sydney Property

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