The February Auction results are just in and make for interesting reading:
Auctions - 15
Sold - 6
Sold Prior - 5
Withdrawn - 4
CLEARANCE RATE: 73.33%
Auctions - 11
Sold - 7
Sold Prior - 3
Passed In - 1
CLEARANCE RATE: 90.91%
Auctions - 2
Sold - 1
Passed In - 1
CLEARANCE RATE: 50.00%
For a full itemised list simply click on the link below each suburb.
It appears to be pretty much the status quo from the end of last year in terms of clearance rates. Once again Dulwich Hill has maintained its position as the star performer out of the three suburbs with the overwhelming majority of sales transacting competitively under the hammer on the day.
Marrickville held its position nicely just around the 70% mark and Hurlstone Park numbers were just too low to read anything into its individual result.
What is very noticeable though is the chronic lack of stock again. A total of 28 Auctions across the three entire suburbs in February is very low. When you compare it to the same period in 2017 there were 43 properties which is a massive drop of over one third.
Marrickville had nearly double the amount of Auctions this time last year with a whopping 28.
We can read two things from this. One, despite buyers having more negotiating power than this time last year it is definitely not because of greater choice. Two, maybe some owners and agents aren't using the Auction method as frequently as they were in 2017. The "speculative" Auction campaign by the overly optimistic agent with an unrealistic vendor is now on the decline, particularly if the odds are firmly against them.
We have one fantastic property going to Auction this Saturday (3/3/18) which is well worth watching:
- 4PM: 4/30 Enfield St Marrickville: 2 B/R dual level penthouse apartment + carspace
There will be a final inspection fifteen minutes prior and you are all welcome to attend. You can also view it through our Facebook Live feed on the day by clicking here: https://www.facebook.com/randwmarrickville