R & W Marrickville/Hurlstone Park Market Update 05.10.2019
The Auction results are in for September:
As you can see the big issue is volume at the moment with the number of Auctions well down across the board. Unsurprisingly this has translated into quite high clearance rates as the large number of current buyers compete intensely for the limited amount of stock available at such a busy time of the year.
Marrickville for example had a perfect 100% clearance rate over a very small number of thirteen Auctions. To put this in perspective last month at the end of the traditionally quieter Winter period there were nineteen Auctions and in September last year there were 23 !
Dulwich Hill was a bit better with a clearance rate of 78% over nine Auctions compared to six in August and fourteen in 2018.
Hurlstone Park continues to be hard to read due to the very low sample sizes. I’ll be reporting the quarterly results next week so look out for that.
Unless you’ve been living under a rock in the last week, as expected the cash rate dropped another 25 basis points to an all time low of 0.75%. Already some of the big four banks are crying poor with the obligatory cliched excuse of “increased inter lending costs” to justify not passing the full amount on and insulting the average person’s intelligence. I’ve been hearing that tired old line for over twenty years now. Funny how people in competitive industries aren’t able to do the same.
Enjoy your first well earned public holiday this Monday. It’s been approximately 118 days since the last one. That hurt just typing it !
That’s it from me. Have a great Long Weekend!
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