On the week ending the 24th/25th May the auction clearance rate in our area was 50% in line with the Sun Herald’s figure of 50% Sydneywide. This week our clearance rate was down again to 37.5% as of conclusion of the auctions scheduled today, 31st May.
Interest rate headlines have been replaced with sky rocketing petrol [...]
To clarify my blog on 10th May, it is certainly acceptable to sell prior to auction as long as it is under auction conditions, i.e. 10% deposit, unconditional contract signed.
An unconditional contract requires the buyers to take the contract to a solicitor or conveyancer who will, if happy with the contract, complete a 66W certificate [...]
The last time I mentioned our clearance rate we were down to 25% so I decided to leave it for a few weeks. Now I am very happy to say that last weekend the auction clearance rate was 50% in our area, compared to the 50.7% Sydney wide rate quoted in the Sun Herald on [...]
Several auctions have been cancelled or withdrawn lately on the day of the auction and signs posted on the signboard saying “Under Contract” or “Under Offer”.
A real estate agent interprets this as “There are no buyers”. This might seem cynical but there are several reasons for this. Practically it should not be possible to be [...]
There are no public or school holidays this month so residential sales should be back on track for May. With Easter so early this year and not tying in with the school holidays sales have been in go slow mode!
But already this month several properties have sold prior, one with an auction date of 24th [...]
