We've seen auction clearance rates increasing over the past few weeks, with the Sydney clearance rate hitting it’s highest point since March.
Strong buyer demand, a shortage of stock and low interest rates are contributing to the strong clearance rates in Sydney, as well as across the state - with the NSW clearance rate sitting at 80% for last week.
Compared to this time last year we saw a similar Sydney clearance rate acheived.
We’ve seen the increase in clearance rates reflected in our own auction results over the past month, with a 100% clearance rate on all our auctions held in September.
Properties have been well inspected over the last month, with multiple homes receiving enquiries in the hundreds, over 100 groups inspecting some properties during the auction campaign - even seeing lines around the block to ensure that social distancing measures are being met.
There are opportunities for both buyers and seller in this climate. For sellers, it is a great market as high demand in a marketplace with lack of supply equals strong results. And with record low interest rates, there is no better time for buyers to purchase and have the low rates locked in.
Whether you’re buying or selling - if you’re thinking of making a move before the end of the year, call us on 4228 0888 to discuss your needs.