R & W Marrickville/Hurlstone Park Market Update 07.03.2020
What a crazy week.
Coronavirus, panic toilet paper buying, stock markets crashes, Presidential Election squabbles, interest rate drops...
Have I left anything out?
Yes ! Auction clearance rates.
The first monthly figures are in for February and are pretty amazing.
For a full itemised list of each sale simply click on the relevant suburb.
Wow is all you can say really. Across Marrickville, Dulwich Hill and Hurlstone Park 32 out of 34 properties offered for Auction were successfully sold either prior or on the day. Last year at the same time we saw 17 out of 32 sell - what a difference twelve months can make.
Let’s start with Marrickville. 18 out of 19 for a clearance rate of 94.74% is about as good as it can get for owners. Despite a reasonable amount of stock, the overwhelming demand for postcode 2204 has seen prices rise and properties sell above reserve frequently so far this year.
Dulwich Hill was the big improver in both volume and clearance. 12 out of 13 properties selling at 92.31% is a lot prettier than February 2019 where 2 out of 8 more resembled a wasteland.
And finally Hurlstone Park had a perfect 100% record admittedly from a very low sample size of only two properties.
This February was very unique in that there were five Auction Saturdays, something we won’t see again until 2048 !
As we head into a relatively early Easter and Anzac Day occurring on a Saturday you will see many owners listing before a hard deadline of Saturday 4th April 2020. After that the school and public holidays will make most of April a write off, particularly for large family homes.
What that means is if you want to buy a property in this area before May I suggest you start considering acting on something as soon as possible.
One such option is the fantastic home we are offering for Auction today Saturday (7/3/20) at 4PM
40 Chisholm Ave Clemton Park - 3 B/R freestanding home on 505sqm corner block + LUG
There will be a final inspection fifteen minutes prior and you are all most welcome to attend. Alternatively you can watch all the action on Facebook Live by simply following our Facebook page.
That’s it from me. Have a great weekend!
0412 465 567