Auction Results Sydney 19 March 2022
Auction Results Sydney
Comment: Auction Results Sydney
The ABS said home prices rose by 4.1 per cent in Sydney during the final three months of last year, taking the annual growth rate to 26.7 per cent. House prices continued to outpace apartments and terraces. Nationally, house prices rose 27.5 per cent through last year, while attached dwelling prices rose 14 per cent.
Over a five year period, Greater Sydney’s median unit price, was up 8 per cent, while the typical sale price for houses was up 42 per cent.
Sydney’s vacancy rate last month was 2 per cent, figures from SQM Research show, which strongly favours landlords and their ability to raise rents. Higher yields encourage investors to purchase more properties and developers to build more apartment blocks.
Sydney’s preliminary clearance rate on Saturday dropped to 66 per cent, down from 78 per cent four weekends ago, according to Domain data.
Anything above 60 per cent will see house price growth, however once clearance rates drop below 60 per cent, price will start to fall. Potential rate hikes, global uncertainty and the sheer increase in listings has left Sydney buyers more cautious at auctions.
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Disclaimer: Not all Properties were bought or sold by TBAS® Buyers Agents. The Auction Results Sydney are compiled for research purposes to assist our valued clients in making educated decisions when purchasing proper