Mart Update November 25, 2019

As we near the end of Spring we saw auction clearance rates taper off a little last week however the final auction clearance rate for Sydney is still likely to come in around a very healthy 70% with the final auction clearance rate for the Inner West likely to come in around 80%. Figures published recently from Corelogic show inner west property values increased by 1.9% in October, outweighing the rest of Sydney which grew only 1.7%. It’s not surprising to see our area leading the recovery as the falls in inner west values were some of the greatest in the recent downturn and lets face it, the inner west lifestyle is hard to beat!

Local sales last week included Annandale 18 Kentville Ave (above $2.15m) and the pre-auction sale of 5 Wells St (above $1.5m) leaving a great choice for buyers of 12 houses with 4 scheduled auctions this week. There were no sales in Lilyfield last week with 14 houses now available and just one auction scheduled this week - the Pilcher Residential listing at 16 Percival St which has attracted plenty of interest from serious renovators and others looking for a potential re-build opportunity. There were no sales recorded for Glebe last week with 6 houses currently available and no sales for Forest Lodge either last week with only 2 houses on the market.

 Feel free to contact me if you need any property advice.