mm Aris Dendrinos
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Sydney Housing Market Update 04/20/2018

April 20, 2018 by Aris Dendrinos

This week we analyse the Auction clearance rates for the first quarter of 2018.

MARRICKVILLE

Auctions       43
Sold              19
Sold Prior      13
Passed In       7
Withdrawn    4
CLEARANCE RATE - 74.42%

DULWICH HILL
Auction         33
Sold             10
Sold Prior      15
Passed In        4
Withdrawn      4
CLEARANCE RATE - 75.76%

HURLSTONE PARK
Auction          10
Sold               4
Sold Prior        0
Passed In        4
Withdrawn      2
CLEARANCE RATE - 40.00%

As you can see

The clearance rates in both Marrickville and Dulwich Hill are quite strong when you consider the Sydney average has been consistently around the 65% level. Hurlstone Park conversely has struggled with a clearance rate below the pass mark.

So how does this compare to the same period last year? Well, I'm glad you asked.

Marrickville

2017 2018
Auctions 59 43
Clearance Rate 86.44% 74.42%

Dulwich Hill

2017 2018
Auctions 23 33
Clearance Rate 82.6% 75.76%

Hurlstone Park

2017 2018
Auctions 12 10
Clearance Rate 91.67% 40%

It's fairly obvious

The crazy days of early last year are now well and truly behind us. Clearance rates comfortably over 80% across all three suburbs and in the case of Marrickville over a quarter more Auctions show just how hot a start 2017 got off to.

We are now definitely in a more steady market but as I have said many times before, for an old dog like me this is normal. In fact, if you offered me 75% clearance rates at any time over the past twenty-five years I'd take it in a heartbeat.

As for Hurlstone Park, the main thing I will say is if an Agent hasn't sold in this area recently it is very easy to adopt the same marketing strategy they have used in other more well-known suburbs thinking they will get the same results. Sadly this is absolutely not the case. Strategy and specific local market experience are crucial right now.

The days of

An owner parachuting an Agent in from out of the area or hasn't sold a property in Hurlstone Park for more than three months and expecting them to deliver a great result, or in some cases sadly ANY result at all, are well and truly over. If you don't believe me simply look at the growing list of unsold passed in Auction homes currently lagging on the market and the kaleidoscope of Agents from all corners of Sydney trying to sell them.