83%

[Richard Feynman]

Clearance rates (an median sale prices) continue to rise in Sydney.

23rd August 2014 AMP results below:

Listed Auctions: 440
Number Reported Auctions: 319
Sold: 281
Withdrawn: 18
% Cleared: 83 %
Total Sales: $265,157,200
Median: $965,000

Lets see what happens as more stock comes on to the market over the next month.

 

[Scott No Mates]

We haven't hit spring yet but the +1 noticed that there have been fewer sales in many of the local suburbs this year.

When prices are up substantially and a lack of listings something going on we thinks.

 

[see_change]

maybe that should be APM Richard ...

http://www.homepriceguide.com.au/saturday_auction_results/sydney_domain.pdf

Cliff

 

[MTR]

What's the median price of Sydney these days?? must be continuing to rise.

 

[Richard Feynman]

I believe you are right Cliff

MTR, I imagine it's been rising steadily (skyrocketing in my areas of interest). I know auction results only account for some of the market though.

Here's the last 5 weekends:

26th July was $856,250
4th August was $907,000 (+ 5.9% from the 26th)
9th August was $931,500 (+ 8.8% from the 26th)
16th August was $899,000 (+ 4% from the 26th)
23rd August was $965,000 (+ 12.7% from the 26th)

 

[MTR]

I believe you are right Cliff

MTR, I imagine it's been rising steadily (skyrocketing in my areas of interest). I know auction results only account for some of the market though.

Here's the last 5 weekends:

26th July was $856,250
4th August was $907,000 (+ 5.9% from the 26th)
9th August was $931,500 (+ 8.8% from the 26th)
16th August was $899,000 (+ 4% from the 26th)
23rd August was $965,000 (+ 12.7% from the 26th)

Richard
This is pretty amazing stuff. Investors playing in Syd should be sitting very nicely

 

[Richard Feynman]

You're telling me MTR.

I would love to be holding more in Sydney (working on it at the moment). I believe there is plenty of steam left.

 

[monalisa]

I would love to be holding more in Sydney (working on it at the moment). I believe there is plenty of steam left.

Hi Richard - how long do you think Sydney has to go?

 

[Richard Feynman]

Hi Richard - how long do you think Sydney has to go?

*whips out crystal ball*

I foresee the next 18 months bringing steady growth as rates remain low and the city does some "catching up" after an uncharacteristically slow decade. It doesn't hurt that the number of super funds shopping for property is growing either.

It's impossible to know, of course. There is a lot of new stock (apartments) likely to be completed over that period (especially in the next 12-24 months) due to high construction approvals in the last couple of years which could influence things a little.

 

[monalisa]

*whips out crystal ball*

I foresee the next 18 months bringing steady growth as rates remain low and the city does some "catching up" after an uncharacteristically slow decade. It doesn't hurt that the number of super funds shopping for property is growing either.

Amen to that!!!

 

[Richard Feynman]

I believe you are right Cliff

MTR, I imagine it's been rising steadily (skyrocketing in my areas of interest). I know auction results only account for some of the market though.

Here's the last 5 weekends:

26th July was $856,250
4th August was $907,000 (+ 5.9% from the 26th)
9th August was $931,500 (+ 8.8% from the 26th)
16th August was $899,000 (+ 4% from the 26th)
23rd August was $965,000 (+ 12.7% from the 26th)

Here's what the clearance rates look like over the same period as reported my APM:

 

[see_change]

http://news.domain.com.au/domain/re...market-shines-at-auction-20140825-1080sm.html

Domain's take on clearance rates from last weekend

Cliff

 

[D.T.]

Make a poll about it RF?

 

[Richard Feynman]

Make a poll about it RF?

I've actually been making bets with friends about clearance rates for the last month. It's fun guessing.

 

[Shahin_Afarin]

North shore is going nuts at the moment - there just seems like a massive number of interest but not surprising when comparing the prices with the rest of the sydney market.

 

[LoneWolf]

Guys, for 500k<, which areas would you focus and what would you focus?
If you don't mind sharing

 

[Richard Feynman]

North shore is going nuts at the moment - there just seems like a massive number of interest but not surprising when comparing the prices with the rest of the sydney market.

(lower) North Shore and Inner West seem to be killing it. The clearance rates there have been closer to 90% over this period.

 

[see_change]

Guys, for 500k<, which areas would you focus and what would you focus?
If you don't mind sharing

Personally ... Brisbane

Cliff

 

[Richard Feynman]

I'm with Cliff. With another $100k-$150k, there'd be a number of options in Sydney but half a mil won't go too far and the lower end of the market has done its dash. Brisbane looks good for that money.

 

[Shahin_Afarin]

(lower) North Shore and Inner West seem to be killing it. The clearance rates there have been closer to 90% over this period.

I was referring to the upper north but yeah its the whole north shore line is going bonkers. Wish I bought a couple more back in 09'.