We have seen a slight surge in listings as school holidays approach, offering more competition to sellers.
However, some sellers are still cautious and wanting to 'test the market'. We are currently being exposed to more off market property from agents than we have been in a very long time.
The auction clearance rate had a slight increase from last weekend to 56.2% from 53.2%. The number of properties scheduled for auction on the weekend also increased to just under 750, with last weekend only being 556 - as sellers are trying to get the deal done before the start of school holidays.
We can see that the Lower North Shore is still holding strong at 71.7%, with the City and Eastern Suburbs coming in at 65.5%.
All in all, in the current market it is so important to have a professional on your side to remove all emotion and risk of overpaying for a property.
*Source: Dr Andrew Wilson, Chief Economist at My Housing Market