Missed by that much ....
Cliff
Cliff
See Change and Richard Feynman . let's hype the sydney market thread .
- Thread starter see_change
- Start date
Miles.
Next week will be of particular interest!
Next week will be of particular interest!
Sydney on track for above trend result
Came across this RP DATA article .
Sydney on track for above trend resul
Has the usual Sydney above trend data but I thought the highlighted bit as interesting .
In Sydney RP Data is expecting 850 auctions compared to 473 last week and 884 for this week last year. The use of auctions continues to rise in Sydney with 27 per cent of all residential sales by auction this year compared to 17 per cent last year.
That indicates that as a percentage of properties going to market , the percentage going to Auction is almost 60 % higher than this time last year.
Normally only a certain type of property goes to market . The increase in this percentage is another reflection of the ongoing strength of the market .
Cliff
Came across this RP DATA article .
Sydney on track for above trend resul
Has the usual Sydney above trend data but I thought the highlighted bit as interesting .
In Sydney RP Data is expecting 850 auctions compared to 473 last week and 884 for this week last year. The use of auctions continues to rise in Sydney with 27 per cent of all residential sales by auction this year compared to 17 per cent last year.
That indicates that as a percentage of properties going to market , the percentage going to Auction is almost 60 % higher than this time last year.
Normally only a certain type of property goes to market . The increase in this percentage is another reflection of the ongoing strength of the market .
Cliff
Sydney October 11th auction report
Sydney October 11th auction report
Sydney's record-breaking early spring home auction market weakened at the weekend reporting its lowest clearance rate for 2 months. The 79.3 percent result broke a sequence of 9 consecutive weekend rates above 80 percent and may reflect the
747 homes were listed to go under the hammer at the weekend which was the highest weekend offering since May. August and September have produced record auction volumes in Sydney for those particular months with October set to continue the current record breaking spring trend.
Although down on recent results the weekend rate nonetheless remains a strong outcome with the Sydney market clearly remaining in favour of sellers with plenty of competition amongst buyers for available homes.
Sydney?s four-weekend average clearance rate now stands at 82.0 percent compared to 82.8 percent over the previous four-weekend period.
Cliff
Sydney October 11th auction report
Sydney's record-breaking early spring home auction market weakened at the weekend reporting its lowest clearance rate for 2 months. The 79.3 percent result broke a sequence of 9 consecutive weekend rates above 80 percent and may reflect the
747 homes were listed to go under the hammer at the weekend which was the highest weekend offering since May. August and September have produced record auction volumes in Sydney for those particular months with October set to continue the current record breaking spring trend.
Although down on recent results the weekend rate nonetheless remains a strong outcome with the Sydney market clearly remaining in favour of sellers with plenty of competition amongst buyers for available homes.
Sydney?s four-weekend average clearance rate now stands at 82.0 percent compared to 82.8 percent over the previous four-weekend period.
Cliff
Volumes rise , auction markets improve
RP Data have picked up on the increasing volumes and continuing high clearance levels
Volumes rise, auction market improves
In Sydney a preliminary clearance rate of 75.8 per cent was recorded compared to 76.4 per cent last week. It is interesting to note that there have been 43 per cent more auctions this year than was the case last year, remarkably the clearance rate has not been significantly affected. It is also interesting to note than in another record, 27 per of homes sold this year have been at an auction compared to 17 per cent a year ago.
Cliff
RP Data have picked up on the increasing volumes and continuing high clearance levels
Volumes rise, auction market improves
In Sydney a preliminary clearance rate of 75.8 per cent was recorded compared to 76.4 per cent last week. It is interesting to note that there have been 43 per cent more auctions this year than was the case last year, remarkably the clearance rate has not been significantly affected. It is also interesting to note than in another record, 27 per of homes sold this year have been at an auction compared to 17 per cent a year ago.
Cliff
No APM preview so far this week .
Lots of new properties on the market in our area in the last two weeks , though interestingly the agents are saying less than normal for this time at spring .
Also lots of buyers , with some having recently sold their properties and now looking to buy.
Most of the new listings are for auction in 3-4 weeks so they won't have much impact on clearance rates at this stage.
The market is still strong , but not crazy . Some properties are selling well above expectations , but agents are saying it's hard to predict .
I'm expecting another strong clearance rate though it might not crack the 80 % again . I'm thinking some where between 76 - 80 . There will be high numbers . Will be interesting to see that when APM pull their finger out and publish their preview .
Cliff
Lots of new properties on the market in our area in the last two weeks , though interestingly the agents are saying less than normal for this time at spring .
Also lots of buyers , with some having recently sold their properties and now looking to buy.
Most of the new listings are for auction in 3-4 weeks so they won't have much impact on clearance rates at this stage.
The market is still strong , but not crazy . Some properties are selling well above expectations , but agents are saying it's hard to predict .
I'm expecting another strong clearance rate though it might not crack the 80 % again . I'm thinking some where between 76 - 80 . There will be high numbers . Will be interesting to see that when APM pull their finger out and publish their preview .
Cliff
Sellers piling in , but will there be enough buyers ?
Ok
So we have Andrew Wilsons market preview
He's covering his bets with a " Sellers pile in , but will there be enough buyers ? "
Key points are
With about 700 homes going under the hammer this weekend, October is shaping up as another record-breaking month for auctions.
This weekend Sydney will again host high auction numbers with 697 homes scheduled to go under the hammer. This is below last weekend's offering of 747 - the most number of auctions since May - but it remains higher than the same weekend last year when 630 auctions were conducted.
August and September produced record auction volumes in Sydney, and October is set to continue the trend.
He does chip in with these comments
But there are indications that buyer activity could be slowing. The Australian Bureau of Statistics has revealed that the value of loans approved in NSW for house sales over August fell by 9.2 per cent.
Investor finance also fell in the same month - down by 7.6 per cent - to $4.8 billion, the lowest monthly total for the state recorded since April.
Despite this sharp fall, NSW remains the market leader with 43.2 per cent of residential investor finance across the country.
Investor finance increased by almost 40 per cent in NSW over the first eight months of this year compared with the same period last year.
I'm not convinced how these can be interpreted to say buyer interest is waning as the August figures are minimum six weeks old and the last two months have given record volumes , but maybe it's his way of covering his bets if the market does slow .
We've talked to several agents in the last days and we got the same info from all of them
The market is strong , but only a small percentage of properties are selling for silly prices and generally they're hard to predict .
There are less listings than normally in spring ? Due to sellers bringing properties on early due to the strong conditions over winter .
There are lots of buyers out there , most of whom are not specifically following the market . They are just going through the normal cycle of upgrading to larger houses , moving close to schools , jobs etc .
Last year at this stage , there was no warning of the jump about to happen and it caught local agents by surprise .
The next month will be interesting .
We're going out to open houses this Saturday .
I'll be interested to see how many turn up to see this one . . ( no , it's not ours ...) even though it's on a main road , the price guide of over 1,550,000 seems significantly under what I'd expect , possibly the most obvious example I've seen recently . The search price is at 1,750,000 which would seem more realistic as a starting price guide , though they might be wanting for something closer to 2 . Will be interested to see if they adjust the price guide after this weekend .
Cliff
Ok
So we have Andrew Wilsons market preview
He's covering his bets with a " Sellers pile in , but will there be enough buyers ? "
Key points are
With about 700 homes going under the hammer this weekend, October is shaping up as another record-breaking month for auctions.
This weekend Sydney will again host high auction numbers with 697 homes scheduled to go under the hammer. This is below last weekend's offering of 747 - the most number of auctions since May - but it remains higher than the same weekend last year when 630 auctions were conducted.
August and September produced record auction volumes in Sydney, and October is set to continue the trend.
He does chip in with these comments
But there are indications that buyer activity could be slowing. The Australian Bureau of Statistics has revealed that the value of loans approved in NSW for house sales over August fell by 9.2 per cent.
Investor finance also fell in the same month - down by 7.6 per cent - to $4.8 billion, the lowest monthly total for the state recorded since April.
Despite this sharp fall, NSW remains the market leader with 43.2 per cent of residential investor finance across the country.
Investor finance increased by almost 40 per cent in NSW over the first eight months of this year compared with the same period last year.
I'm not convinced how these can be interpreted to say buyer interest is waning as the August figures are minimum six weeks old and the last two months have given record volumes , but maybe it's his way of covering his bets if the market does slow .
We've talked to several agents in the last days and we got the same info from all of them
The market is strong , but only a small percentage of properties are selling for silly prices and generally they're hard to predict .
There are less listings than normally in spring ? Due to sellers bringing properties on early due to the strong conditions over winter .
There are lots of buyers out there , most of whom are not specifically following the market . They are just going through the normal cycle of upgrading to larger houses , moving close to schools , jobs etc .
Last year at this stage , there was no warning of the jump about to happen and it caught local agents by surprise .
The next month will be interesting .
We're going out to open houses this Saturday .
I'll be interested to see how many turn up to see this one . . ( no , it's not ours ...) even though it's on a main road , the price guide of over 1,550,000 seems significantly under what I'd expect , possibly the most obvious example I've seen recently . The search price is at 1,750,000 which would seem more realistic as a starting price guide , though they might be wanting for something closer to 2 . Will be interested to see if they adjust the price guide after this weekend .
Cliff
Just back from some open houses. No sign of interest slowing down on the basis of what we saw. Lots of people at inspections .
Several people asking for contracts and quite a few in prolonged discussions with agents . ONe place we saw , knew the agent . first open . Several people " seriously interested "
Clearance rates will be interesting.
Cliff
Several people asking for contracts and quite a few in prolonged discussions with agents . ONe place we saw , knew the agent . first open . Several people " seriously interested "
Clearance rates will be interesting.
Cliff
This weekend will be really interesting. Anything either side of a 79-80% clearance rate might say a bit.
Back where we left off two weeks ago.
Property Snapshot
Number Listed Auctions: 704
Number Reported Auctions: 478
Sold: 411
Withdrawn: 29
% Cleared: 81 %
Total Sales: $413,979,776
Median: $975,000
Property Snapshot
Number Listed Auctions: 704
Number Reported Auctions: 478
Sold: 411
Withdrawn: 29
% Cleared: 81 %
Total Sales: $413,979,776
Median: $975,000
Saw the coldest ever auction at 16 Callala Grove, Pendle Hill. One bid, vendor bid, same bidder bid again - 550k, 615k, 620k. The lot was crap, on the low side.
The other 1 Camillo St, Pendle Hill, sold for 935k. Rather surprised. 550+sqm lot, 14 year old double story home within 1 km of station. I think it went cheap given good levelled blocks with old clad homes are selling for 640k-695k or so. Cost of bulilding is high now, so a similar home if built from scratch would cost 1050k - 1150k.....
The other 1 Camillo St, Pendle Hill, sold for 935k. Rather surprised. 550+sqm lot, 14 year old double story home within 1 km of station. I think it went cheap given good levelled blocks with old clad homes are selling for 640k-695k or so. Cost of bulilding is high now, so a similar home if built from scratch would cost 1050k - 1150k.....
Are you talking about 16 Calla Grove, Pendle Hill? If it is then you can actually see the Sydney harbour from that spot!
High Volume
Back over 80 %
Trend is maintained .
Cliff
Back over 80 %
Trend is maintained .
Cliff
Yes - but it was on low side - even if you can see the city - its just a crap block of land. If it was that good, it would have had more interest.
$1MM to build a double storey home?! Where are you getting your quotes?
Or do you mean buying the land in Pendle Hill, knocking down existing, and putting up a new double storey home?
Geez. On a clear night I can see the Aroura Borealis but does anyone care let alone want to pay $$$?.
I recall that you can see the cbd/fireworks from Cecil Hills and Hoxton Park too, so what - I'd rather be 40km closer to town and hear/smell them.
The latter TV unless it was a decent development site $1.7 would be a rarity in PH).
yes and yes
Take it easy Soctt. I didn't say you have a Harbour view. I said "you can see the Sydney harbour.."
I would prefer to have that sort of higher up view where I can see the trees, lights, river and eventually tiny harbour compared to a place where you can only see neighbour's windows.
I am not knocking views. I even had a place with views to high security housing complex (Silverwater gaol), fuel refinery and high density housing comm. On the upside were the open cbd &water views, Olympics site and a stroll to the ferry.
Bought cheaply through a useless agent, sold through a keen one.
Bought cheaply through a useless agent, sold through a keen one.
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