Amidst continued political uncertainty buyers continued to hibernate from the market during the last weekend of winter.
To further punish the market The Sydney Morning Herald has now reported that “”Stronger than expected retail trade and building approvals figures and a lower trade gap have ‘‘blitzed expectations’’, making a rate rise by the end of the year all but certain”. The combined effect of a looming interest rate rise and increasing listings gives little hope of days on market and prices improving in the near future.
Across Sydney this weekend, Australian Property Monitors reported a clearance rate of 73% with 207 of 273 places sold at auction.
Place Double Bay is pleased to report a clearance of 100% for the month of August – with all auctions selling before or under the hammer.
Tagged: Auction Clearance, Australian Property Monitors, Place Double Bay, The Sydney Morning Herald, Under the Hammer
