This weekend produced an auction "revival" following weeks of school holidays and distractions on Sydney's property market but the Western Suburbs are still struggling.
This weekend produced an auction "revival" following weeks of school holidays and distractions on Sydney's property market.
The overall clearance rate of 65.2% was bolstered by strong results of 79.7% for the Inner West, 79.1% for the Upper North Shore and 78% for the Lower North Shore. The North West also performed strongly at 70% and the City and East remained consistent with rates in the mid 70%s.
The West continues to struggle with less than 1 in 5 properties scheduled to go under the hammer selling; a trend which is also being seen on the Central Coast with a rate of just 21.1%, and seriously hampering the overall clearance rate for Sydney.
The median price for Sydney was also up on last week's figures and on the same weekend last year to $1,212,000, showing there is still growth in property prices, albeit at a slower pace to 2017.
For more insight on what's happening in the Sydney Market, please check out our May Sydney Property Market Report here.
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