Sydney Housing Market Update 23/02/2018
February 23, 2018
Hands making bids
Following on from my previous update we held our first two Auctions for 2018 over the weekend with both successfully selling under the hammer. To take a look at one of our on-site auctions simply click here: 2/11 Woodcourt Street, Marrickville: 3/468 Illawarra Road, Marrickville: Both auctions were perfect illustrations of what I was commenting on last week. We had four and five registrations respectively at each and both vendors set realistic reserves. The buyers to their credit put their hands up and competed with the final bid winning out. What was clear though was both properties wouldn’t…
Sydney Housing Market Update 16/02/2018
February 15, 2018
Another week flies by and the messages we are seeing in the market are very mixed. Numbers at open homes are solid but not spectacular with many new buyers filling the gap left by those who purchased late last year. Auction clearance rates are steady but nowhere near the heady 75% plus juggernaut days of early last year. The number of bidders is also lower than this period. But here's the thing for buyers to know - stock levels are still quite tight historically. I've used the same rudimentary metric over the past fifteen years to quickly test the temperature…
Sydney Housing Market Update 09/02/2018
February 8, 2018
Rates on Hold
The first meeting of the Reserve Bank of Australia was held this week and it was business as usual with no change in interest rates. As is the custom at the beginning of every year economic forecasters are all corralled together with their crystal balls and asked to predict the future for the ensuing twelve months. We all know it is pretty much impossible to get it right consistently but it is always interesting to see what the various pundits think is going to happen. My personal favorite is Bill Evans from Westpac. He comes across as someone that doesn't…
Sydney house market update 08/02/18
February 6, 2018
With all the little ankle biters back in school this week the real estate market tends to crank back into full gear with a noticeable increase in the number of new homes being listed. This year will be even more pronounced as Easter falls very early in the last week of March. That means many Agents and owners will be frantically setting their respective Auction dates now leaving just eight weeks of activity. April is always a funny time for our business with the combination of Easter, First Term school holidays and Anzac Day all fracturing the month and making…
Sydney Housing Market 18/01/2018
January 19, 2018
Sold Sign
I previously reviewed last year's Auction results for Marrickville, Dulwich Hill and Hurlstone Park. This week I'm going to see how we stacked up. Our results in 2017 were as follows: MARRICKVILLE DULWICH HILL HURLSTONE PARK Auctions 17 12 15 Sold 9 9 12 Sold Prior 4 3 0 Passed In 4 0 3 Withdrawn 0 0 0 CLEARANCE RATE 76.47% 100.00% 80.00% So how did that directly compare to the industry average? Well, I'm glad you asked. MARRICKVILLE DULWICH HILL HURLSTONE PARK Industry 72.90% 80.42% 68.42% Richardson & Wrench 76.47% 100.00% 80.00% I'm very proud of the fact that…
January 9, 2018
feet pointing back to work
Yes, we are back at work! I hope you aren’t and continue to enjoy your holiday in Sydney or somewhere else in the world. So what will 2018 hold for us in regards to Inner West property? Well, I’m glad you asked. As the next twelve months unfold I see a very even market bedding itself down for the long term. From my observations over the past twenty plus years in sales, you usually exit a boom the way you entered it and I see no different phenomenon here. Since the GFC way back in 2008 (was it really that…
Inner West Auction Report 2017
December 21, 2017
As a courtesy to all our clients we have collected the Auction data in our three core suburbs for the entire year and provide you with this complimentary summary. In our first year we only followed the Marrickville market but have added both Dulwich Hill and Hurlstone Park in 2017. It really has been a tale of two halves this year across all three regions. In the first half we saw clearance rates week in week out around the 80% mark with no signs of change. However, by the beginning of Spring the writing was on the wall and with…
Sydney Housing Market Update 21/12/2017
December 21, 2017
Christmas lights on a house
The year has nearly drawn to a close but before we go I thought you’d like to mull over the December Auction results: MARRICKVILLE Auctions - 21 Sold - 7 Sold Prior - 4 Passed In - 7 Withdrawn - 3 CLEARANCE RATE : 52.38% DULWICH HILL Auctions - 15 Sold - 4 Sold Prior - 6 Passed In - 3 Withdrawn - 2 CLEARANCE RATE : 66.67% HURLSTONE PARK Auctions - 2 Sold - 1 Sold Prior - 1 CLEARANCE RATES : 100.00% The numbers don’t lie and you can see good old Sydney and the…
Sydney Housing Market Update 15/12/2017
December 14, 2017
RYLA logo
The final push is on to secure a home before the end of the year and we have a cracking Auction on this Saturday (16/12/17) : - 2PM : 19 Dixson Avenue Dulwich Hill : 4 B/R Double fronted house + LUG on 512sqm The property is a deceased estate and is being conducted by the NSW Trustee & Guardian. With a reasonable reserve price it is expected to sell, so if you want a quality family home in such a fantastic area like the Abergeldie Estate it's not too late. Last week I had the rare privilege to attend…
Sydney Housing Market Update 08/12/2017
December 7, 2017
home auctions
The Auction results for November are in with some surprises. MARRICKVILLE Auctions - 38 Sold - 21 Passed In - 9 Sold Prior - 6 Withdrawn - 2 CLEARANCE RATE : 71.05% DULWICH HILL Auctions - 17 Sold - 9 Passed In - 4 Sold Prior - 4 CLEARANCE RATE : 76.47% HURLSTONE PARK Auctions - 7 Sold - 1 Passed in - 4 Withdrawn - 4 CLEARANCE RATE : 14.29% As you can see both Marrickville and Dulwich Hill have bucked the Sydney trend with clearance rates well above the current average of the low 60% range. On the…