As we close the week of 22nd to 28th May 2023, the New South Wales property market has demonstrated notable trends in auction results and property sales. Here’s a rundown of the week’s happenings in the property world.
The NSW auction clearance rate stood firm based on 866 auction results available. This is a crucial indicator of the strength of the property market and the level of buyer demand.
In the week under review, a total of 311 properties were sold at auction. Of these, 250 were sold at auction, 24 were sold prior to auction, and the remaining were sold after auction. In contrast, we also observed that 151 properties were withdrawn from auctions, and 130 passed in, providing a holistic view of the auction scenario.
Non-auction sales continued to play a substantial role, with 1,544 properties sold via private sales. This highlights the preference for varied sales methods and the dynamic nature of the property market.
A closer look at individual suburbs reveals where the property activity was most concentrated. Armidale led the week with 12 results available, followed by Albion Park, Auburn, and Balgowlah each recording 5 results. Aberglasslyn also stood out with 3 results. These suburbs have shown high activity, making them areas to watch in the coming weeks.
Stay tuned to our blog for weekly updates on the New South Wales property market. Your dream home might just be around the corner!
Please note that the information provided in this blog post is based on the latest available data from realestate and is intended for general informational purposes only. It is not intended to provide legal, financial, or any other form of professional advice. While we strive to present accurate and up-to-date information, there may be occasional inaccuracies, and the data may have changed since the time of writing.
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