Weekly Snapshot of NSW Property Market: Sales and Auction Results for June 12-18 2023

The past week in the New South Wales property market was filled with considerable activity, from June 12th to June 18th, 2023. It was a buzzing week in terms of property auctions, private sales, and a noteworthy clearance rate.

The NSW auction clearance rate, a critical indicator of market sentiment, came in strong at 68%. This implies that more than two-thirds of properties that went to auction were sold, a positive sign for sellers in the market.

Out of 836 auction results available, 307 properties were sold at auction, a testament to the potential of the auction process in the current market. An additional 246 properties were sold before even getting to the auction stage, reflecting the high demand and fast pace of the market. Meanwhile, 14 properties managed to find buyers post-auction.

Parallel to the auction market, the private sales segment showed significant activity as well, with 1,112 properties being sold privately. This suggests a strong preference among a section of buyers and sellers for a more direct and possibly less competitive route to property transactions.

Delving deeper into the geographical distribution of the week’s activity, let’s look at the top five suburbs based on the number of results available:

  1. Schofields, 2762, with 14 results available
  2. Taree, 2430, with 13 results available
  3. Parramatta, 2150, with 11 results available
  4. Tamworth, 2340, with 9 results available
  5. St Ives, 2075 and Wahroonga, 2076, tied with 8 results each

These suburbs were hotspots of activity, hosting the most property sales events, though this doesn’t necessarily correlate with actual sales.

Lastly, Schofields (2762) held the highest number of auctions, while a number of suburbs had just one auction, such as Sadleir (2168) and Yanderra (2574), among others.

Stay tuned for our next weekly update on the NSW property market!



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