Still early days but APM has reported for the 31st Jan 2015:
Number Listed Auctions: 97
Number Reported Auctions: 85
Sold: 67
Withdrawn: 10
% Cleared: 71 %
Total Sales: $46,497,500
Median: $712,000
I'm gonna make some predictions (for my own benefit). I can check back on them over time:
Number Listed Auctions: 97
Number Reported Auctions: 85
Sold: 67
Withdrawn: 10
% Cleared: 71 %
Total Sales: $46,497,500
Median: $712,000
I'm gonna make some predictions (for my own benefit). I can check back on them over time:
- Inner West to continue to outperform wider Sydney (and within that area, Marrickville--my baby--to be a star, especially 2 bed apartments and entry level homes. Also expect to see good growth for areas around the recently completed light rail extension)
- 5-20km from CBD to put on 10%+ in the 2015 calendar year (might even outperform the 5-15km radius around the Bris CBD over the same period)
- Rate cut Feb/March to have a marginal impact, adding a little momentum
- (If a second) rate cut happens Q3/Q4 2015, that momentum to carry into 2016
- Sydney with another 15%+ left in it this cycle
- Massive amounts of new apartment stock (especially Bris, Syd and Melb CBDs) to continue to be absorbed by off shore investors with increasing vacancy rates in those areas (for a period)
- Many $100mil+ acquisitions of development sites around transport hubs and the CBD by off shore developers
- Media swinging like a pendulum "Boom back, clearance rates hit 80%!!!", "-0.4% this month! OMG! Bubble burst! Price crash! Sell, sell, sell! Then jump out of a window!!"
- More developers producing micro-apartments (or a percentage of them) within their projects