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Steve

Steve

Sydney
The National Cabinet’s decision to place a ban on on-site and in-room auctions had little impact on the inner west, with the region recording the best clearance rate in Sydney. CoreLogic reports that the inner west scored a 68 per cent clearance rate with 51 out of 75 properties selling on the day or prior to it. Despite the clearance rate being 10 per cent down from last week, it was still 21 per cent above the Sydney-wide score of 47.3 per cent. The region was also 11 per cent ahead of Ryde, which was the second best area in Sydney with a 57.1 per cent clearance rate. In Marrickville, a four-bedroom home sold via online auction to a family who viewed the property just four hours before it went under the hammer. The family went up against three other buyers for 15 Tamar St, Marrickville, which was broadcasted via Auctionslive, with Richardson and Wrench Marrickville staff on phones to bidders as back-up in case of any technology glitches. The competitive auction saw the home sell for $15,000 above the reserve at $1.515 million. Richardson and Wrench Principal Aris Dendrinos, said it was a difficult decision whether to move to a private treaty sale, but the vendor was determined to proceed with an online auction. “We had a lively auction that was kind of weird exciting, a vendor who was prepared to meet the market if necessary, and enough competition to produce a strong sale,” he said. A bidding frenzy from eight registered bidders saw a quintessential Newtown semi sell for $85,000 above reserve. After the opening bid of $1.15 million, more than 90 bids were traded between four active buyers, before a young single male landed the knock out blow of $1.415 million. Ray White Surry Hills director Shaun Stoker said despite the auction not taking place on-site at 88 Darley St, it was highly competitive. “We’d carried out dry-runs for a few hours on Thursday and Friday to ensure our bidders and buyers had a smooth and seamless experience and that certainly paid off today,” he said. Source:x Coronavirus real estate: Inner west market fires o... It was business as usual for the inner west during the first weekend of online auctions, with the region scoring a clearance rate 21 per cent higher than Sydney as a whole. www.realestate.com.au
0 Reply 148 Views 4Mo ago
Royal

Royal

It’s impossible to tell what the future holds for Australia’s property market amid the rapidly evolving pandemic situation. But we are starting to see a change in dynamics , and it appears the rental market is the first to be hit. The Federal Government is currently in discussions with state and territory leaders about model rules for landlords and tenants in the current climate. A decision is expected in the coming days. But for now, search activity for renters is unstable. Job losses are having an impact The one major influence on rental activity is a change in employment conditions, and we’re now clearly seeing COVID-19 impacting the rental market. Search activity from renters is down over the past two weeks but it is also down year on year. This is unsurprising given that most renters are young and fall into the low-income bracket. Rental listings are on the rise The other indicator we’ve been monitoring is listings, and currently the number of rental listings is rising. This is partly because many homes that were rented out as short-term accommodation are now being listed as long term. The buyer market is still buoyant While the rental market is starting to show signs of the impact of COVID-19, the buyer market is holding up relatively well, for now. Search activity has slowed over the past two weeks but it is still well up compared to the same time last year. Property is a safer gamble While property will be impacted over the next month, it is still generally considered safer than the sharemarket, which continues to show incredible amounts of volatility. As yet, we are not seeing distressed sales, likely because most banks are now offering six-month mortgage repayment breaks to people impacted by COVID-19 job loss. Property owners and buyers are showing positive signs, all things considered. However, sentiment is likely to change over the coming month. Investors without a tenant may struggle to pay off loans, and as unemployment rises we might start to see distressed sales occurring. Read more:x Rental Market Take A Hit From COVID-19 - realestat... It’s impossible to tell what the future holds for Australia's property market amid the rapidly evolving pandemic situation. But we are starting to see a change in dynamics on realestate.com.au, and ... www.realestate.com.au
0 Reply 76 Views 4Mo ago
Simon

Simon

Sale
If the buzz surrounding the Australian Open has you wanting to hit an ace, imagine having your own backyard tennis court to practice on. Here are the top three properties on the Gold Coast with tennis courts.IF the Australian Open has you wanting to hit an ace, imagine having your own backyard tennis court to practice on. Here are three of the best properties on the Gold Coast market with tennis courts: 1. A tropical oasis awaits at 44-48 North Point Ave, Kingscliff.Price: $6.995 million This is unique because it is the only property available with a tennis court on the beachfront between Byron Bay and the Gold Coast 2. 11-19 Hidden Court, KingsholmePrice: $1.795 million The northern Gold Coast is home to many acreage retreats so it’s no surprise to find a luxury hideaway complete with a tennis court.On top of a ridge and offerings views to Moreton Bay and Stradbroke Island is a resort-style five-bedroom property on the market at $1.795 million. 3. 1 Winchester St, SouthportAuction: February 2 The European-inspired estate features a raft of luxury features including a pool, tennis court, two gazebos and a dining pavilion. For more informationx Top three houses for sale on the Gold Coast with t... If the buzz surrounding the Australian Open has you wanting to hit an ace, imagine having your own backyard tennis court to practice on. Here are the top three properties on the Gold Coast with tennis... www.realestate.com.au
0 Reply 191 Views 6Mo ago
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