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Today's Sydney realestate ring explodes and weekend clears are innovative

[Economic News]     23 Feb 2020
I believe many people open the Timeline today are full of all kinds of "broken house" trading record-breaking marvels. For example: Surry Hills Ashfield indoor plus outdoor total of 126 square meters of two-room two-Wei,650,000, the final shot of 1.02 million, a premium of 58%. At the same time, we can compare the average price of the second-hand apartment around the Ashfield area to 6.65 million ...

I believe many people open the Timeline today are full of all kinds of "broken house" trading record-breaking marvels.

For example:

Surry Hills


Ashfield

Indoor plus a total of 126 square meters of two - room two - Wei,650,000 shooting, the final shot of 10.28 million, a premium of 58.

At the same time, we can compare the average price of the second-hand apartments in the Ashfield area to 665,000 Australian dollars, with an entry level of 530,000 Australian dollars and a high of 851,000 Australian dollars. Auctions of the property were almost 200,000 Australian dollars above regional highs.

This is an important stop in the inner and western regions. It has always been loved by the old and new Chinese immigrants. This week`s regional clear rate also went to 76%.


Neutral Bay

The three - room, two - car - parking duplex starts at A $1.6 million and ends at a premium of 47.5% to 2.36 million.

The median price for the average three-room apartment in Netural Bay is A $1.7 million, starting at A $1.08 million with a high price of 4.6 million. This is the traditional north coast rich area, this week`s regional auction rate also reached 89%, scarce landscape or high-end market is still recognized and sought after.


Homebush

The 669-square-metre five-room villa ended up at the auction price of $2322,000.

Homebush sits farther west than Ashfield did before in the CBD. Next to the Flemington market and Sydney Olympic Park.


Sans Souci

The 834sq m three-bedroom villa at Sans Souci in the Southern District ended up selling for 2.56 million Australian dollars.

The median regional price is 1.06 million Australian dollars, the entry-level price is 753,000 Australian dollars, and the high price is 1.62 million Australian dollars.

Sans Souci is situated at the independent corner opposite Shires in Southern District, surrounded by water on both sides of the area, with one side bending over the other. Surrounding the Shires area, which has always been popular with locals, the property is also located at CornerBlock on a street corner and is flatteringly high.


Eastwood

The two - decked four - room home in Eastwood, at 885.2 sq m, starts at A $1.75 million and ends at a 30% premium of A $22.7 million.

Near the Macquarie and Epping business district, one of the traditional Chinese favorites in the North District, is convenient.

The median price of four rooms in the region is 1.65 million Australian dollars, starting at 1.26 million Australian dollars and a high price of 2.15 million Australian dollars.

Such a fiery auction market has put Sydney`s weekend clearance rate finally at 83 per cent (Real Estate data)82 per cent (Domain data), which is where it has been at a high of 80 per cent for three weeks since 2020.


Sydney`s levels since the first weekend of auction on February 1,2020 are:

  • 77 per cent as at 1 February (Domain data)
  • 80 per cent on 8 February (Domain data)
  • 84 per cent as at 15 February (Domain data)
  • 82 per cent as at 22 February (Domain data)

The last time Sydney`s weekend clear rate hit a high of more than 80 per cent for three weeks or in 2017. That`s when prices skyrocketed in the last round of sydney`s real estate cycle.

There is also something to be concerned about non-auction deals. This week`s auction of 504 properties sold 404, but non-auctions amounted to 1235, with rational buyers still in large numbers.

The clearing rate is a very important indicator of the Australian realestate market and can be simply referred to as the "barometer" of the Australian realestate.

Auction price is also often the case, and not as exaggerated as everyone, after all, the price is determined by the market. But with population growth, low build volumes and higher construction costs, the government has introduced a new deal that keeps auction rates high and believes sydney`s real estate can provide some comfort in this troubled 2020.

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