Clearance Rates Hit New Highs In Sydney
With the median house price sold in the Harbour City tipping $1.6 million.
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Covering off the last weekend of summer, clearance rates from around the country’s top markets were high this weekend, as Sydney reported a record weekend clearance rate of 90.0% – higher than the previous weekend’s 87.3% and the 85.8% reported for the same weekend last year.
Sydney recorded a median price for houses sold at auction on the weekend of $1,645,000, lower than last weekend’s $1,692,500 but 14.2% higher than the $1,440,000 recorded over the same weekend last year.
Sydney’s Central Coast, North West, Northern Beaches and Upper North Shore fared best, with the city’s West performing weakest with an albeit solid 82.1%. Units cleared slightly below that of houses at 88.9%.
Melbourne also continued to recover from its recent lockdown reporting its highest clearance rate for three weeks of 82.0%, higher than the previous weekend’s figure of 79.6% and the 80.4% reported over the same weekend last year with a median price of $1,002,500.
Encouragingly for Melbourne, auction numbers again increased sharply to 1211 compared to the previous weekend’s 1004. However, listing numbers have still fallen from last year’s figures of 1384 for the same weekend last year.
Sydney featured 734 auctions this weekend compared to last year’s 911.
Around the country, Brisbane saw a clearance rate of 73.4%, down from last week’s 83.0% but up on last year’s 65.8%. Adelaide was reasonably steady at 85% from last week’s 87.5% and up on last year’s 71.1% while Canberra was also consistent performing at 85.9% from last week’s 85.2% and up from 70.3.%
Data powered by Dr Andrew Wilson of MyHousingMarket.com.au
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
A new digital real estate site promises a full view of the housing sector, even those places not on the market
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Hot on the heels of the launch of View Media Group last year, Australia’s newest proptech digital media company has gone live with its consumer-facing real estate site, view.com.au.
The new site offers a ‘freemium’ model allowing vendors to list their properties for free while having the option of further upgrades for agents looking to enhance their listings.
VGM executive chairman Anthony Catalano said the model was a ‘game changer’ in the digital real estate space.
“While VMG is much more than a portal play, it’s critical that we have a consumer-facing brand that will act as the front door to attract consumers and in turn allow us to offer products and services in a range of verticals across the property ecosystem,” Mr Catalano said. “Our plan is to create a digital real estate superstore under the new View brand that will play in the $300 billion adjacency categories rather than solely focus on the $1
billion of digital property advertising.”
“We’ve listened to the industry and the time is right for an offer to come to market with an alternative model that addresses the real estate industry’s concern at the continually
escalating price of advertising.”
The View portal is available through app stores and will include properties across the country, not just those on the market right now.
“That means view.com.au will showcase more than 11 million properties in Australia compared to some of the portals which feature around 140,000 properties for sale,” Mr Catalano said. “From Day 1 we will provide consumers with a complete view of the market.’’
View has worked with mapping partner Nearmap to create the ability to have a comprehensive overview of all properties.
“We’ve had a look globally at best practice search for property and we’ve consumer tested a range of options and without doubt the preferred experience is map-based search,” View CEO Toby Blazs said. “So unlike others in the market who default consumers to a list view, we’ll default our search results via a map.”
Mr Catalano said the innovative site was designed to be a true disruptor in the proptech sector.
“VMG continues to grow and tick off the key parts of its strategic plan,” he said. “We are well on the way to forming a global-first conglomerate of proptech assets including portals, ad tech, lead generation, lead management solutions, media planning and buying, AI services, data and connections all under the one roof.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
