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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Withdrawn 0 0 0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 we achieved such above-average clearance rates for our owners last year. Dulwich Hill was especially strong with a perfect 12 out of 12.

In my opinion, it just goes to show that a local specialist will deliver a better sale price in the long run. Our experience, skill and in particular product knowledge all combine to achieve this time and time again.

And not only for owners. Any purchaser who participated in one of our Auctions stood a better chance of securing it on sale day through our significantly higher clearance rates. I would put it to all buyers that the worst feeling at Auction is NOT being the underbidder but rather the highest bidder at a more than fair price without a successful sale because the Agent hasn't educated their owner to be realistic and accept your offer.

The other secret to our success is our office doesn't Auction ALL of our properties just for the sake of it and to our benefit. We carefully consider the merits of each individual sale before we recommend the process to our clients. With the last quarter of 2017 indicating a slow down in clearance rates we will be even more selective and vigilant about what we choose to sell under the hammer.

This will be illustrated in the coming weeks where more than half of our new listings will have a clear public asking price on them. Look out for our upcoming offerings next week.