Sydney Property Market Update 03/11/2018
This week the October Auction results are in for Marrickville, Dulwich Hill and Hurlstone Park.
On the whole I think they are pretty good when held side by side with the clearance rates across greater Sydney.
Marrickville has performed especially well.To have a clearance rate above 60% over 28 Auctions shows a sustained strength in demand for the suburb. It will be interesting to see how things go for the rest of the year as the bulk of the Spring home Auction campaigns have now been launched.
Dulwich Hill let the side down this month with a clearance rate just below 50%. I would point to the heavy percentage of apartments in the 19 sales (13 or 68%) adversely affecting the result as they are considerably more difficult to sell under Auction conditions at the moment as opposed to houses. For example, In Marrickville last month 21 out of the 28 sales were houses - that's a whopping 75%.
And good old Hurlstone Park keeps chugging along with a solid 50% clearance rate from again a low sample of only six sales. As always, we will have to wait until the end of the quarter to obtain a large enough number of Auctions to really ascertain what is going on.
The other interesting thing is if we compare the volume to the same period last year numbers are actually up with Marrickville (23), Dulwich Hill (11) and Hurlstone Park (3) all recording significantly lower figures in October 2017.