Are we set to see a sixth week of clearance rates above 80%? Winter is traditionally a quieter time in the real estate game but not in 2013.
According to Landsburys, AFR and SMH the low interest rates are having a positive impact on capital cities with an increase in auction clearance rates and increased sales prices.
One would have to think that many sellers have opted to get in before September which looks to be an interesting month to monitor. Not only does the Federal Election fall in September, but also footy finals and School Holidays.
From the perspective of the land market in Sydney – it seems not a lot can slow the demand.
Major developments including Georges Fair (Investa), Stonecutters Ridge (Medallist), The Hermitage, Elizabeth Hills (Mirvac), Oran Park and Bingara Gorge (Lend Lease) all having releases in the last few weeks and all selling approximately 90% of their stock in the first few days.
Stockland is to have a new release this weekend at Willowdale in East Leppington and they report interest levels like never seen before. It would seem that they are likely to have all 40+ lots sold in the first few hours of release.