The confidence of agents across Sydney has been boosted after the weekend’s positive auction results. Early indicators show the clearance rate sitting at 58 per cent with expectations it will remain at 50 per cent or above once the figures are finalised later in the week.
While auction sales were buoyant at the weekend, a new trend has emerged in the first four months of 2019; a growing number of property has been selling before auction. At Tucker Real Estate, we have noticed a similar trend with the slowing market and sales before auction are becoming more desirable for our vendors.
A-grade properties are still going to auction and are achieving good results. Finance however is still causing issues for some buyers due to stricter lending conditions leaving them unable to bid. Vendors across all price points have had to negotiate down to meet the market, so really the only thing stopping a sale is where sellers are holding onto high-price expectations.
I believe these April clearance results are a sign of good things to come for the rest of 2019.
Our next round of auctions will be held on Wednesday 17th April @ 5:30pm at the Ex-Servo’s Club - all welcome!
If you have any further questions about the auction process, call Andrea Tucker on 0402 487 887