Sydney auction volumes to fall 50pc or more
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Auction volumes in Sydney are poised to fall by more half or more in the weeks ahead as vendors postpone their sales or strike deals before the event amid uncertainty over the duration of the COVID-19 lockdown.
About one in five homes (19 per cent) were withdrawn from auction last week and more than three in four were sold prior, CoreLogic figures show.
Since June 26, when Sydney’s latest lockdown started, the number of homes taken to auction has already plummeted by 40 per cent.
Nick and Christine Dendrinos sold their property at 22 Curtis Avenue in Taren Point for $1.731 million at an online auction this week.
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at 10:30 am on July 7, 2021 | 5 comments
SQM Research has released its Stock on Market data for June, with total listings nationally down another 4.0% with all capitals but Darwin recording falls:
Tightening market.
Over the year, listings fell 21.6% nationally, again with all capital city markets but Darwin recording falls.
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Big winter fall.
Less stale stock.
Commenting on the results, SQM managing Director Louis Christopher noted that demand continues to outstrip supply, which will push prices higher in the period ahead:
“Notwithstanding the quieter winter season, property listings fell again in June following a drop in May. We have also seen a another large fall in old listings this month, indicating old stock is being sold and new property listings aren’t offsetting this fall. This highlights there are more buyers than sellers in national property markets, and it a
Property market update: Sydney, June 2021 smartpropertyinvestment.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smartpropertyinvestment.com.au Daily Mail and Mail on Sunday newspapers.
Capital city home values add 10% in 1 week amid lockdowns
By Bianca Dabu
30 June 2021
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1 minute read
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Despite localised lockdowns, home values across the capital cities have continued to climb, but is this growth sustainable?
Confirming the market’s strength amid yet another COVID-19 outbreak, the average capital city house price soared 10.4 per cent in the week ending 29 June to $1.078 million, new research from SQM has revealed.
At the same time, the national average increased by 7.6 per cent to a median of $687,500.
“There are still more buyers than sellers in national property markets, and . the market remains strong despite the new outbreak in COVID-19 cases and the end of JobKeeper and HomeBuilder earlier this year,” SQM Research’s managing director, Louis Christopher, said.