66 Victoria Rd Bellevue Hill Archives

Comment: Auction Results Sydney

Corelogic figures show housing values recorded a drop for the second consecutive month in June. Sydney dropping 0.8% and Melbourne 1.1%

NAB chief economist Alan Oster said, moving forward, the biggest impacts on Australia’s housing market will come from rising unemployment, job security and consumer confidence, but prices have held up slightly better than expected. Oster is forecasting price falls of 10 to 15 from peak to trough.

Larger houses in the Canterbury-Bankstown area, lower north shore and other pockets close to the CBD have been getting the best results at auction. Wollstonecraft, Bondi, North Bondi, Elizabeth and Alexandria are seeing a clearance rate of around 66%, due to the shortage of properties.

Using a Buyer's Agent: A Buyer's Agent can act as a 'middleman' at a time when house hunting has become more difficult. A Buyer's Agent can help by providing a shortlist of properties and arrange private viewings.

Auctions have resumed Onsite. If you are planning on bidding , it is important you have a proven auction strategy and get professional advice.

TBAS® Buyers Agents are continuing to inspect, bid at auction Online and Onsite to purchase properties for their clients. For more details contact us.