Sydney Housing Market Update 04/05/2018
At the end of every month,
We bring you the Auction results for our three core suburbs. Here are the statistics for April:
Sold Prior 5
Passed In 6
CLEARANCE RATE 68.97%
Sold Prior 4
Passed In 4
CLEARANCE RATE 60.00%
Sold Prior 0
Passed In 2
CLEARANCE RATE 0.00%
For a full itemised list of each individual Auction simply click on the link below the relevant suburb.
Marrickville has maintained
A consistent clearance rate above the greater Sydney average which is encouraging considering the large volume.
Dulwich Hill came back to earth
A bit from greater heights previously and Hurlstone Park was very hard to read with only two Auction sales all month.
The fact the entire two and a half week school holiday period occurred throughout April is also a factor we can't fully quantify on how it affected clearance rates. This will become clearer as we head into May which has no holidays of any sort.
In other news
The Reserve Bank of Australia once again decided to leave rates where they are for the nineteenth consecutive month, which is now a record.
A handful of economic forecasters gave an outside chance of a rate increase which was interesting. From where I sit the employment figures, inflation rate and current property market suggest maintaining the status quo which the notes from the Reserve also indicate.
What is interesting
Was a fact I read yesterday about when the Reserve Bank last increased rates - 3rd November 2010! They went up 0.25% to 4.75% on that day which goes to show how long the current generation of buyers and mortgage holders have been participating in a low-interest rate market.
We have one great on-site Auction this Saturday (5/5/18):
4PM: 13 Melford Street, Hurlstone Park - 3 B/R Freestanding Federation Home + parking
The property will be open for inspection fifteen minutes prior and you are all most welcome to attend. Alternatively, you can view it on Facebook Live by following our page through this link: https://www.facebook.com/randwmarrickville