Home News Sydney auction numbers dip

Sydney auction numbers dip

Font size :
With only 509 homes scheduled to go under the hammer this weekend, Sydney's auction levels remain below the numbers of the pre-Easter holiday break and the same time period last year. A year ago, falling interest rates catalysed housing market activity in Sydney, but rates have remained on hold so far this year.

Sydney's inner west area has the highest number of auctions listed at 82, followed by the upper north shore and south shore at 78 and 74, respectively. The clearance rate was at 73.7 per cent last weekend, which was a bit below the 74.1 per cent recorded on the pre-Easter weekend. It was also below the average weekend rate of 74.5 per cent. The most popular suburb this weekend is Mosman with nine auctions, followed by seven auctions each in Ryde, Randwick, Carlingford, Killara, and Marrickville.

Just last week, the Reserve Bank of Australia decided to leave the official interest rates at two per cent for the 11th consecutive month this April. Low interest rates have been fuelling buyer activity in the Sydney housing market.

However, a near-term cut in the rates remains in the cards with mixed reports on national economic health. According to the latest data from the Australian Bureau of Statistics, the recent home building boom has already peaked, which might mean falling or flat house prices in the future. The trend for retail sales growth is also declining while the inflation remains low and the Australian dollar continues to track well above the policymakers' preferred levels.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

Mortgage applications drop in second quarter Mortgage applications drop in second quarter

This marks the “beginning” of a downward trend, says Equifax executive Read more

To break monopoly, many smaller lenders could become banks To break monopoly, many smaller lenders could become banks The proposed change could break the Big Four’s monopoly over the mortgage market and help families get cheaper home loan rates ... Read more

Borrowing against the home: A strategy to pay for aged care Borrowing against the home: A strategy to pay for aged care Such debts can generally be divided into long-term and short-term loans ... Read more

NAB slashes growth forecasts for houses, units NAB slashes growth forecasts for houses, units Numerous factors, including tighter credit rules and the growing supply of new stock, have reined in Australia’s seemingly unstoppable housing market boom ... Read more

More mortgage news and articles

Sponsored Links

Sunday, Jul 23, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Whether you're a first homebuyer, looking to refinance, or investing, it's important to have the right loan for your needs. Just fill in a few details below and one of our trusted mortgage advisers will contact you.

A quick & easy way to find the right home loan
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords