REINSW – NSW Weekly Market Wrap
Announcement posted by Perception Partners 06 Nov 2011
REINSW – NSW Weekly Market Wrap
31st October to 5th November 2011
6th November 2011
“Tuesday's 25-basis-point reduction in official interest rates is expected to provide modest stimulation to the property market over the coming months. While the saving is a relatively small amount - around $600 a year on the average NSW home loan - interest rate cuts can lead to an increase in consumer sentiment that outweighs their dollar-value. This week saw a clearance rate of 59 percent, with 362 properties selling from 612 reported results”.
Tim McKibbin
CEO – REINSW
|
59% Clearance rate |
612 Auction Results Last week: 730 This week last year: 577 |
|
Sold prior to auction: |
104 |
|
Sold at auction: |
238 |
|
Sold after auction: |
20 |
|
Total Volume: |
$241.01mil |
|
Passed in: |
250 |
|
Passed on vendor's bid: |
25 |
|
Withdrawn: |
63 |
|
Postponed: |
11 |
|
No Result: |
135 |
For more information go to www.realestateview.com.au
Please direct media enquiries to Julian Brophy on 0408 276 749.