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  1. #1
    Join Date
    Sep 2003
    Location
    High up above and deep down under
    Posts
    10,915

    Default Sydney auction market crumbles with 57.5 per cent clearance rate

    Sydney auction market crumbles with 57.5 per cent clearance rate

    Sydney’s crumbling auction market reached a new low on Saturday,
    recording the lowest clearance rate in years.

    There were 873 homes scheduled to go under the hammer on Saturday.
    By Saturday evening Domain Group had collected 560 results and put
    the clearance rate at 57.5 per cent – down significantly on last weekend’s 62.6 per cent.
    Read more at
    http://www.domain.com.au/news/sydney...151121-gl4jlw/
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

  2. #2
    Join Date
    Sep 2008
    Posts
    7,650

    Default

    also from that link

    New laws to clamp down on Melbourne CBD’s skyscrapers

    won’t stop a predicted drop in prices of up to 20 per cent in the next three years,

    get out as soon as possible [otherwise] it will take 10 to 15 years before you get your money back

    small apartments in larger blocks with little natural light would be those hardest hit,


    Domain Group senior economist Andrew Wilson did not predict any significant drop in prices for inner city apartments.

    local buyers typically require decent levels of cash flow and a steady tenant

    offshore buyers were “a whole new ball game” and were more than happy to keep apartments vacant.



    http://www.domain.com.au/news/no-sto...150908-gjhbqi/
    Last edited by eri; 22-11-2015 at 04:48 PM.
    have you defeated them?
    your demons

  3. #3
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,359

    Default

    The sky is falling!

    I won't believe it until I see it.
    Squadly dinky do!

  4. #4
    propertysearch Guest

    Default

    Quote Originally Posted by muppet View Post
    Crap. Houses are still selling. Just not as fast. Thank the media for the next beat-up....orchestrated by the government one might think.

  5. #5
    Join Date
    Jul 2012
    Location
    Tavua, Fiji
    Posts
    3,347

    Default

    Over 50% clearance is hardly bad. May just be a reflection of jacked up expectations caused by agents.

  6. #6
    Join Date
    Sep 2013
    Location
    Auckland
    Posts
    3,885

    Default

    It's just a reflection of a market void of foreign chinese buyers

  7. #7
    Join Date
    Apr 2009
    Posts
    1,003

    Default

    I've noticed Auckland normally lags a year behind Sydney trends and apartments are normally the most volatile of the lot.

  8. #8
    Join Date
    Feb 2015
    Posts
    378

    Default

    Apartment lender AMP blacklists more than 140 suburbs



    http://www.domain.com.au/news/apartm...0323-gnp7c0-2/


 

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