PHOTO: Dan White – Ray White Group
While momentum has been building over the past few months, few would have expected a month as strong as October 2019. At $4.35 billion, we are now back in the excellent category of market activity. What a different six months makes!
Overall we were up 20 per cent on last year The big markets wrote big numbers. Our New South Wales network hitting $1.2 billion in sales, up an astonishing 40 per cent on last year. And Victoria getting close to $700 million in traded sales, achieving a 30 per cent increase in activity compared to last year
Despite reports of low stock levels, we undertook 2,337 auctions in October. This is a lift of 8.2 per cent in volume from last year scheduled auctions. The buzz was evident as we had more than 60,300 people attend our auctions with 3.5 average registered bidders per auction.
Almost eight in 10 houses in Sydney were sold under the hammer or just prior, which is a massive turnaround to recent months. The top sale for the month was a retail building in Eastwood, Sydney which sold for $7.250 million. The incredible result is that despite there being more stock on the market now in late Spring, our national clearance rate is holding firm (and high) at more than 68 per cent
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