Many of you will have noted that the clearance rate has fallen over the past two weekends – measuring 70% and 68% respectively. While this is certainly much lower than the mid-70s results achieved this time last year, it’s worth remembering that 2016 really was a standout year.
A recent report from CoreLogic shows that while there was a drop in Melbourne’s clearance rate between 2016 and 2017, the current clearance rate is at a fairly similar level to the same time of year in 2013 through to 2015. In fact, with many more properties on the market this spring compared with previous years, the clearance rate is actually performing very well. Unlike Melbourne, Sydney’s clearance rates are at their lowest levels since 2012, in spite of stock levels staying fairly constant.
With less than a month until Christmas, we’re working with plenty of buyers who are keen to lock down their next property before end of year; and potential vendors who are on the fence about whether early in the new year is a good time to sell.
If you’re in either camp, please get in touch with your local Greg Hocking office. Real estate doesn’t take a holiday over Christmas and neither do we – while it’s generally a quieter period, there are certainly always great opportunities for both buyers and sellers, but we can only help you if we know about you!