Sydney Property Market Update 04/10/2018
After hopefully an enjoyable Long Weekend the Auction results are in for September.
As you can see the clearance rates across all three suburbs make for sobering reading. Both Marrickville and Dulwich Hill have recorded figures below 60% in the same month for the first time this year and whilst Hurlstone Park is more encouraging, as I've said many times before, it is hard to read anything into such a small sample size of only three. It's far better than zero though, isn't it!
Speaking of sample sizes, what is interesting to note is how low the numbers were across the board when you consider September is the first month of Spring and included five Saturdays. Granted there was a Long Weekend in there but 14 Auctions in Dulwich Hill and only 23 in Marrickville is very low historically.
This illustrates two things to me. One, the market is still in fairly short supply and two, maybe some owners and agents have chosen the Auction process less recently to sell a property.
It is also still noticeable how our region consistently out performs the greater Sydney clearance rates week on week. With the Long Weekend figure dropping below the symbolic 50% mark for as long as I can remember our little pocket of the Inner West keeps motoring on.
A good example were the two Auctions we successfully sold under the hammer.
- 11/71 The Boulevarde, Dulwich Hill : $730,000 : 2 B/R Security Unit + car space
- 43 Day Street, Marrickville : $1,320,000 : 2 B/R Single Fronted House + parking
With interest rates unsurprisingly left on hold for another month we hit the home straight with the best buying conditions you can hope to see and only barely two months of the year remaining. The time to buy REALLY is right now.