Sydney clearance rates hit 80 %

[see_change]

After several weeks of climbing clearance rates in Sydney , the rate hit 80 % yesterday. We went to one auction ( really a prolonged negotiation with one potential buyer ) yesterday which resulted in a sale at the top of expectations . The auctioneer reported it was his 8th auction of the day and all sold.

http://apm.domain.com.au/saturday_auction_results/Sydney_Domain.pdf

http://getsoldprice.com.au/auction/result/state/NSW/auction_date/2014-08-09/start_with/N

Cliff

 

[Richard Feynman]

And the median this weekend was 8.8% higher than 2 weeks ago.

 

[Shahin_Afarin]

Prices in north shore are going nuts - a 2 bedroom old house in North Turramurra just sold in for $1.3mil.

 

[virgo]

Sydney crazy!

Hiya

And yesterday a house behind me in Pennant Hills 4 bedder old fashioned red brick house sold for 1.245 million

And did i say it had power lines behind?

 

[MTR]

Mona Vale Project

Wonderful news.

My initial thoughts were for poor old MichaelW, who had a tough time with this project, I think he will be cracking the a bottle tonight. What would these little babies sell for now??? Mind boggles.

http://somersoft.com/forums/showthread.php?t=53207&highlight=michael

 

[Deltaberry]

The market is on fire again. All the doomsayers in hiding

 

[MTR]

The market is on fire again. All the doomsayers in hiding

They are not in hiding, they just don't have any equity to buy

 

[see_change]

Prices in north shore are going nuts - a 2 bedroom old house in North Turramurra just sold in for $1.3mil.

Do you have a link ?

We just went to the auction of this place in Pymble , 11 am sunday 10 th .

Know the agent , had talked to him before and after ( he knows we weren't interested in it ) . Expectations were 1.9 . Bidding started at 1.9 and sold at 2.03 . Three Asian bidders , the under bidder conceded defeat saying , " she's has number 8 " .

This one sold recently . Went on line on the friday , 40 enquiries , 19 different offers .... Expectations were 1.15.

Certainly the market seems to be picking up at the moment .

Cliff

 

[turk]

The market is on fire again. All the doomsayers in hiding

A bit of negative news and they will be back with their charts, graphs, what ifs and maybes.

Not forgetting their perennial favorites such as,

"I'm waiting for the market to pullback, collapse."

"I can't find a good deal."

 

[MTR]

I don't think we have had many D&G 'ers around for quite some time... in part because we have had some great rising markets across Australia. Now when GFC hit, wow, it was a continual bombardment of the same old same, thankfully the sky did not fall, and here we are again making money

 

[Shahin_Afarin]

Do you have a link ?

We just went to the auction of this place in Pymble , 11 am sunday 10 th .

Know the agent , had talked to him before and after ( he knows we weren't interested in it ) . Expectations were 1.9 . Bidding started at 1.9 and sold at 2.03 . Three Asian bidders , the under bidder conceded defeat saying , " she's has number 8 " .

This one sold recently . Went on line on the friday , 40 enquiries , 19 different offers .... Expectations were 1.15.

Certainly the market seems to be picking up at the moment .

Cliff

http://www.luschwitz.com.au/buying/NSW/North-Shore-Upper/Turramurra/House/1P1383

This one sold for $1.31mil and this one sold for $1.26mil and it needs plenty of work:

http://www.domain.com.au/property/sold/house/nsw/turramurra/?adid=2011328664&sp=2

I went to the open house and they were going to auction but due to the massive amount interest sold in the first week.

 

[MTR]

http://www.luschwitz.com.au/buying/NSW/North-Shore-Upper/Turramurra/House/1P1383

This one sold for $1.31mil and this one sold for $1.26mil and it needs plenty of work:

http://www.domain.com.au/property/sold/house/nsw/turramurra/?adid=2011328664&sp=2

I went to the open house and they were going to auction but due to the massive amount interest sold in the first week.

Shahin
I think that means you are cracking a bottle of champagne too whoooo ooo

 

[see_change]

http://www.luschwitz.com.au/buying/NSW/North-Shore-Upper/Turramurra/House/1P1383

This one sold for $1.31mil and this one sold for $1.26mil and it needs plenty of work:

http://www.domain.com.au/property/sold/house/nsw/turramurra/?adid=2011328664&sp=2

I went to the open house and they were going to auction but due to the massive amount interest sold in the first week.

The Evelyn one is the one I linked too . I think that Evelyn at 1.26 was a good buy . I'm surprised the agents didn't bring the auction forwards . Even though the owner wanted 1.15 , I think it could have gone for more in an auction situation .

I think both of those will be knocked down and re built .

It's almost too early to call , but from what we've seen in the last two weeks the market seems to be jumping at the moment ...certainly in the lower end .

Btw , it might be perdantic , but the Murdoch st house , is in turramurra , not north turramurra , though the princes st shop area that it's in , is probably the cheapest area in turramurra . Evelyn st is definitely considered a better st than Murdoch.

Cliff

 

[charlieandkath]

Go Sydney you flaming ripper. My prediction of doubling by 2018/2019 from 2003/04 looks fairly certain now. May even come in before that.

 

[Deltaberry]

@ MTR Re GFC, well the best time to buy is when the doomsayers return. Probably as good a proxy for the market as most things.

 

[bumskins]

http://domainmastheads.homepriceguide.com.au/Research/AuctionResults/?city=sydney&skin=sydney

Revised interest rates paint a slightly different picture. Clearance rates peaked at 76% on the July 12 Weekend, and have lost a few points and stabilised since.

On average the headline clearance rate (that reported on Saturday evenings) is routinely revised down 3-6%. So the 80% reported for 9Aug, you'd expect to drop to 74-77% once revised. (Based on past experience)

So you can have a situation of the headline clearance rate appearing to increase but the revised clearance rate is going the other way.

These are All of Sydney clearance rates but. There is areas like North Shore/Inner West that are on fire easily achieving high 80's and even 90's clearance rates. But that means there must be other area's that are labouring. So it does depend what area your operating in.

 

[Redom]

Very interesting numbers and anecdotal evidence. Any ideas how the west/south west is moving?

http://domainmastheads.homepriceguide.com.au/Research/AuctionResults/?city=sydney&skin=sydney

Revised interest rates paint a slightly different picture. Clearance rates peaked at 76% on the July 12 Weekend, and have lost a few points and stabilised since.

On average the headline clearance rate (that reported on Saturday evenings) is routinely revised down 3-6%. So the 80% reported for 9Aug, you'd expect to drop to 74-77% once revised. (Based on past experience)

So you can have a situation of the headline clearance rate appearing to increase but the revised clearance rate is going the other way.

These are All of Sydney clearance rates but. There is areas like North Shore/Inner West that are on fire easily achieving high 80's and even 90's clearance rates. But that means there must be other area's that are labouring. So it does depend what area your operating in.

 

[Marty McDonald]

My west pymble purchase is looking good! Pop

 

[Marty McDonald]

The Evelyn one is the one I linked too . I think that Evelyn at 1.26 was a good buy .

Cliff

Agree... east side, walk rail, flat block. Kdr will be worth $1.8 ish

 

[see_change]

Kdr will be worth $1.8 ish

?? Kdr

Cliff