mm Aris Dendrinos
It would be safe to say that Aris has always had real estate pumping through his veins. Born into a…

Housing Market Update 07/07/2017

July 6, 2017 by Aris Dendrinos

Market Update image

Whilst some of you are enjoying the school holiday break I thought the half yearly Auction clearance rates might make for interesting reading.

Auctions - 150
Sold - 89
Sold Prior - 33
Passed In - 25
Withdrawn - 3

Auctions - 63
Sold - 34
Sold Prior - 20
Passed In - 8
Withdrawn - 1

Auctions - 16
Sold - 13
Sold Prior - 1
Passed In - 1
Withdrawn - 1

For a full itemised list of every Auction simply click on the link below the relevant suburb.

As you can see the clearance rates of all three suburbs are above 80% which is quite amazing. The volume of Auctions conducted illustrates the geographical differences between such a huge suburb as Marrickville which has more than double the amount of properties than Dulwich Hill and about eight times that of Hurlstone Park.

In terms of comparisons to the first half of last year we only collected the data specifically on Marrickville but what is very clear is the difference in volumes. There were only 117 Auctions conducted in the first six months compared to 150 this year which is a fairly significant increase of 28.2 %. The clearance rates also have crept up from 75.21% which tells me that more owners have chosen the Auction method over private treaty in 2017 and have been better rewarded for it to date.

Will this trend continue for the rest of the year?

Only time will tell but the recent evidence suggests that despite no significant increase in supply across the three suburbs demand is starting to drop ever so slightly. Whether this is seasonal or cyclical we’ll need a bit more time to assess.