Tensions Rise As Sydney’s Auction Clearance Rate Drops Below 60%

Sydney’s property market saw tensions rise this weekend past with auction clearance rates dropping to 58.1 per cent as reported by Domain, as auctioneers who were confronted by a significant amount of “pass-in’s”, mediated standoffs between prospective buyers and vendors across the city. The clearance rate for Saturday, one of the lowest of the year, was based on 378 reported auctions. However in addition to this, 76 properties were withdrawn, and a further 216 scheduled auction results Read more [...]

Hobart Takes The Lead In Property Demand Booms As Sydney Enters Slump Status

According to Real Estate Australia’s first Property Outlook Report, Sydney has been named Australia's “most challenged city” following a 25 per cent plunge in property demand, whilst Hobart on the other hand is higher than anywhere in Australia. The disheartening news for Sydneysiders is based on the number of realestate.com.au views last quarter compared with the same period last year. Whereas Hobart’s residential property market showed demand in the southernmost capital is double that Read more [...]