{"id":25286,"date":"2016-06-03T15:00:11","date_gmt":"2016-06-03T05:00:11","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=8195"},"modified":"2016-06-03T15:00:11","modified_gmt":"2016-06-03T05:00:11","slug":"sydneys-auction-clearance-rates-soldier-on-2","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/sydneys-auction-clearance-rates-soldier-on-2\/","title":{"rendered":"Sydney’s auction clearance rates soldier on"},"content":{"rendered":"

In his column in\u00a0Switzer<\/a>, John McGrath discusses the recent slowdown in Sydney’s price growth, but\u00a0says\u00a0the clearance rate remains positive.\u00a0<\/strong><\/p>\n

The Sydney market<\/a>\u00a0has certainly slowed down a bit this year in terms of price growth, but the city\u2019s Saturday auction clearance rates have been consistently high \u2013 above 70% for most of the year.\u00a0\"mcgrath\"<\/a><\/p>\n

The highest clearance rates so far were recorded over back-to-back weekends in May at 80.3% from 505 properties and 77.6% from 573 properties, according to Domain Group.<\/p>\n

Clearance rates are an important indicator of what\u2019s going on in the market.<\/p>\n

Unlike many other statistics that have a lag time before publication, clearance rates tell us what\u2019s happening week to week, so they\u2019re a great yardstick for supply and demand.<\/p>\n

One of the factors keeping Sydney\u2019s clearance rates strong right now is a lack of supply.<\/p>\n

This time last year around 750 homes were going to auction every weekend, so that\u2019s about a 30% drop.<\/p>\n

In the meantime, buyer demand remains strong.<\/h4>\n

More new buyers are entering the market every week too, particularly following the surprise 0.25% interest rate cut in May and speculation of a further rate cut to come.<\/p>\n

There\u2019s plenty of people out there who have been searching for their next home or investment for many months, or even for a year or more.<\/p>\n

It\u2019s become harder for buyers on tight budgets because property prices have grown so strongly over the past three years \u2013 and they\u2019re continuing to grow now.<\/p>\n

CoreLogic RP Data reports an increase of 4.5% in Sydney\u2019s median house price from January to April; and a 4.2% increase in the apartment median.<\/p>\n

To those buyers frustrated by high competition, I say don\u2019t lose hope.<\/h4>\n

\"751969_l\"<\/p>\n

Conditions are settling and the frenzy has gone out of the market, it\u2019s just that very low stock is resulting in exceptional prices.<\/p>\n

This low supply environment will continue throughout winter and the pre-election period so there\u2019s every reason to expect a lot more stock to come onto the market this spring, so you will have more choice then.<\/p>\n

The other important trend in recent clearance rates is the domination of the city\u2019s premium areas.<\/p>\n

These areas tend to perform well in pretty much any type of market, whereas outer ring markets can experience greater highs and lows in sales activity and short-term price growth.
\nThis compares with the South, South-West and Western Suburbs where clearance rates have recently been in the 60% range, according to data from Domain Group.<\/p>\n

The top performing areas have included Sydney\u2019s Lower North Shore, Inner West, Northern Beaches and the City and Eastern Suburbs where clearance rates have recently been in the 80% to early 90% range.<\/p>\n","protected":false},"excerpt":{"rendered":"

In his column in\u00a0Switzer, John McGrath discusses the recent slowdown in Sydney’s price growth, but\u00a0says\u00a0the clearance rate remains positive.\u00a0 The Sydney market\u00a0has certainly slowed down a bit this year in terms of price growth, but the city\u2019s Saturday auction clearance rates have been consistently high…<\/p>\n","protected":false},"author":176692473,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-25286","post","type-post","status-publish","format-standard","hentry","category-latest-story"],"yoast_head":"\nSydney's auction clearance rates soldier on - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/sydneys-auction-clearance-rates-soldier-on-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sydney's auction clearance rates soldier on - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"In his column in\u00a0Switzer, John McGrath discusses the recent slowdown in Sydney’s price growth, but\u00a0says\u00a0the clearance rate remains positive.\u00a0 The Sydney market\u00a0has certainly slowed down a bit this year in terms of price growth, but the city\u2019s Saturday auction clearance rates have been consistently high...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/channels.realty.com.au\/realtytalk\/sydneys-auction-clearance-rates-soldier-on-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Realty Talk\" \/>\n<meta property=\"article:published_time\" content=\"2016-06-03T05:00:11+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/realestatetalk.com.au\/wp-content\/uploads\/2014\/08\/mcgrath.jpg\" \/>\n<meta name=\"author\" content=\"Kevin Turner\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kevin Turner\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/sydneys-auction-clearance-rates-soldier-on-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/sydneys-auction-clearance-rates-soldier-on-2\\\/\"},\"author\":{\"name\":\"Kevin Turner\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/ae5a3b5e891767bd82ad3a068c514329\"},\"headline\":\"Sydney’s auction clearance rates soldier on\",\"datePublished\":\"2016-06-03T05:00:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/sydneys-auction-clearance-rates-soldier-on-2\\\/\"},\"wordCount\":458,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/sydneys-auction-clearance-rates-soldier-on-2\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/realestatetalk.com.au\\\/wp-content\\\/uploads\\\/2014\\\/08\\\/mcgrath.jpg\",\"articleSection\":[\"Latest Stories\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/sydneys-auction-clearance-rates-soldier-on-2\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/sydneys-auction-clearance-rates-soldier-on-2\\\/\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/sydneys-auction-clearance-rates-soldier-on-2\\\/\",\"name\":\"Sydney's auction clearance rates soldier on - 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