With the end of the Sydney lockdown imminent, we thought it worth sharing that over the last 14 weeks of the Sydney lockdown, the Scerri Auctions clearance rate has remained above the average, at a stellar 83%. Clearly, Sydneysiders enthusiasm for buying property is unrelenting. The end of the world may come but by jingos I got a good deal on that inner city unit!
The Australian asks whether a ‘mass exodus’ out of Sydney may be contributing to this 5 year high 75% average in clearance rates from the end of June, till the end of August.
Eliza Owen, Core Logic’s head of research, is quoted as saying, “The fact more sellers are coming onto the market through an extensive lockdown suggests more people may be looking to move to the regions or to Queensland.”