17/02/2020
“Sydney's weekend auction market recorded another boom-time weekend result and is recording its strongest auction season start in 5 years.
Sydney’s Saturday auction clearance rate of 83.6% was higher than the previous weekend’s 80.6% and again well ahead of the same weekend last year’s 62.3%. Saturday’s result was the 3rd consecutive rate over 80%
Auction listings are also rising sharply with sellers keen to take advantage of current strong buyer activity. 506 homes were auctioned on Saturday, well ahead of the previous weekend’s 402 auctions and the same weekend last year's 437.
Auction numbers will increase sharply again next weekend with up to 800 homes set to go under the hammer
Sydney’s median weekend auction price of $1,225,000 was well ahead of the previous weekends $1,127,000 and similar to the same weekend last year’s $1,224,500.
Sydney’s higher-priced, inner-suburban regions produced remarkable results at the weekend led by the Northern Beaches with a 100% clearance rate. The Inner West, Lower North and Upper North Shore all recorded rates over 90%
The ABS reports surging end of year home lending that is likely to continue into 2020 particularly fuelled by first home buyers.”
(source: 📊 by Dr. Andrew Wilson)⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀