R & W Marrickville/Hurlstone Park Market Update 07.12.2019
The Auction clearance rates are in for November:
The year has most definitely ended with a big bang as Marrickville, Dulwich Hill and Hurlstone Park all performed well above the Sydney average. It was a big month that included a rare five Saturdays which always lifts the Auction volumes in this busy end of Spring selling period.
Let’s start with Marrickville. Thirty two Auctions and a clearance rate of 84% is very consistent, particularly when you consider where we were last year. In November 2018 the clearance rate for Marrickville was just over 60% across twenty eight Auctions. Always a strong performer, Marrickville has consistently been recording quality results in large quantities month in month out when other neighbouring postcodes and areas across Sydney were really struggling.
Dulwich Hill had a spectacular November. Seventeen out of nineteen sales for a clearance rate of 89% is simply stunning. When you then compare it to the abysmal 20% clearance rate over ten Auctions the same time last year, it’s amazing to see how much the market has shifted in such a short space of time.
Hurlstone Park had four out of its five properties sell for a healthy 80% clearance rate. Compared to 50% over six Auctions in November 2018 this was a welcome return to optimum selling conditions in this sleepy Inner west enclave.
Unfortunately for buyers it will be more of the same as we head into a short December and the New Year. Supply is still chronically low for the ever increasing demand so I find it hard to see much changing when all the new listings hit the market in January 2020.
For any owner thinking of taking the plunge, now is a great time to talk to an Agent and map out a plan before you go on holiday. Take it from me, it’s far less stressful doing this than when you get back. By the time you blink these days a week and a month have passed you by so getting on the front foot to book those in demand Auctioneers, tradespeople, etc. is the way to go rather than rushing in mid to late January.
As always we’ll be here to advise you on the best course of action.
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