Tuesday, 27 August 2013

Your Property Empire Update Week (28th Aug 2013) - Some Interesting Statistics as Reviewed by Charles Tarbey.

National Auction Clearance Rate:
70.4% in Sydney this week (28th August 2013) , 20% higher than this time last year.

Sydney remained the star performer this week with 77% clearance rate
Melbourne 71% clearance rate
Adelaide 74.5 clearance rate, Highlight: A strong performer. Last week 68.9%

General Observation of the property market this week: 
We don’t have enough stock and the interest rates remain very low. It is not a surprise that the national auction clearance rate remain quite consistently high. The selling and buying activity will increase as spring sets in. Normally property campaigns would begin now.The impending election on 7th September 2013 would mean many sellers are putting their campaigns on hold until at least after the election. The long weekend in the first weekend of October is also a clear reason why many are avoiding a campaign right now. 

Homes Advertise For Sale remained subdued.
-0.33% , last week -0.8 , the week before -0.73 , and the week before that -0.03%

With all these campaigns on hold, we anticipate that November and December will see a lot of properties come on the market.

Residential Rent Price Movement this week.
Sydney 11.8%
Melbourne 7.15%,
Perth 17.69%
Average between the three of them 12.22%
While its steady the rent price movement is not growing. This is not likely to slow until first home buyers start buying and start increasing vacancy rate.

Residential Vacancy Rate
2.41% Sydney
1.82 % Melbounre
3.5 % Perth

2.57% All three cities.

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