Strong Auction Results April 2021 NSW 94% VIC 89% ACT 100%

Discussion in 'Property Market Economics' started by Illusivedreams, 21st Apr, 2021.

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  1. Illusivedreams

    Illusivedreams Well-Known Member

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    upload_2021-4-21_16-43-56.png


    We know not every one agrees with the methodology

    i always say the same thing. The methodology is the same and has been this is just one gauge.

    Although these results are amazing if you are a holder.
     
    Illusivedreams, 21st Apr, 2021
    #1
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  2. Illusivedreams

    Illusivedreams Well-Known Member

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    Another super strong weekend.
    Accelerated from previous weekend 5474B4AF-4060-4B67-BD30-B6988672BCE1.png
     
    Illusivedreams, 1st May, 2021
    #2
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  3. standtall

    standtall Well-Known Member

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    Sydney is surely coming off the boil .. I went to 4 auctions yesterday, only two sold and failed auction not reported in official auction results.

    Stocks are also increasing so I expect things to cool down a bit from now until summer.
     
    standtall, 2nd May, 2021
    #3
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  4. Sackie

    Sackie Well-Known Member

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    Sydney is huge . Many markets. Some of the markets I'm watching are EX-ploding.
     
    Sackie, 2nd May, 2021
    #4
  5. longtimelurker99

    longtimelurker99 Well-Known Member

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    Which markets do you think are exploding Sackie? I'm watching some of the east, places that would have sold week of listing have stayed unsold for at least 3 weeks so I think there's some cooling down.

    That being said, Some non-east areas I'm looking into are still pretty competitive...
     
    longtimelurker99, 2nd May, 2021
    #5
  6. Sackie

    Sackie Well-Known Member

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    Semis/homes in bondi, vaucluse, Rose Bay,.Bellevue Hills.

    Other markets too in Quakers Hill and certain surrounds.
     
    Sackie, 2nd May, 2021
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  7. standtall

    standtall Well-Known Member

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    No doubt things are still hot but nowhere close to Early April.

    I know one vendor who listed a 2 bedder in crows nest for $1.56m based off some crazy recent comparables. They have now dropped the price to $1.25m but no one is biting. Early April, they would have sold near the asking price.

    Prices across the Hills District rose 30% between Jun20 and Apr21 but have scaled back 5-10% based off auction results.

    Auctions are still filling up streets and not uncommon to see 100+ crowds but buyers are thinning out as there are way too many houses coming up.

    Cherrybrook currently has 36 houses listed for sale which is almost twice as many as normal stock on the market because a lot of new vendors are rushing to list after seeing top end frequently surpassing $2.5m in March/April.

    A bit of correction is expected after a massive surge .. it’s simple demand and supply.. prices will probably stabilize once stock levels start getting absorbed.
     
    standtall, 2nd May, 2021
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  8. Sackie

    Sackie Well-Known Member

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    I don't know the ins and outs of the areas you mentioned but I'm pretty sure in many of the Eastern suburbs of Sydney, competition remains fierce for homes and semis. I expect prices to start to level off and probably retract a little, but I'm not seeing that happen in Bondi, Rose Bay, bellevue Hills et al yet.
     
    Sackie, 2nd May, 2021
    #8
  9. Illusivedreams

    Illusivedreams Well-Known Member

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    Sutherland Shire houses are of the rails.
    Buraneer. Lilli Pilli. Caringbah South . Port Hacking . Dollars Bay.

    All going best few weeks I have ever seen

    3 Weerona Place, Caringbah South, NSW 2229
    https://www.realestate.com.au/sold/property-house-nsw-caringbah+south-135940626

    Look at this monster result $3,000,000 yesterday.
    Essentially a knock down or a massive reno . Environmental zone can’t be duplexes.
     
    Illusivedreams, 2nd May, 2021
    #9
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  10. hash_investor

    hash_investor Well-Known Member

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    Where were those auctions? I see a couple of houses sold over the weekend could have achieved 100K more just last month.
     
    hash_investor, 3rd May, 2021
    #10
  11. Illusivedreams

    Illusivedreams Well-Known Member

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    Illusivedreams, 3rd May, 2021
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  12. Illusivedreams

    Illusivedreams Well-Known Member

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    Core Logics is showing Sydney April growth rate of 2.3% which is bonkers coming 3.7% the months earlier.

    We have to slow down.At this pace you would have 30% per year growth.

    But remember.

    Slowing growth from 3.7 in 1 months 2.3% in a months still means you paid 2.3% more today than you did 1 months ago.
     
    Illusivedreams, 3rd May, 2021
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  13. carbon

    carbon Active Member

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    you sound like an auctioneer
     
    carbon, 3rd May, 2021
    #13
  14. hash_investor

    hash_investor Well-Known Member

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    Those are average or median numbers I am not sure. They don't represent every suburb.
     
    hash_investor, 3rd May, 2021
    #14
  15. Illusivedreams

    Illusivedreams Well-Known Member

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    And the house goes to >>>>>>

    >>>>> the couple In Corner congratulations
     
    Illusivedreams, 3rd May, 2021
    #15
  16. standtall

    standtall Well-Known Member

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    Cherryrbook/WPH area .. most listings here could have sold for $200k more just last month as well.. or $500k less six months ago.
     
    standtall, 4th May, 2021
    #16
  17. Harry Marcus

    Harry Marcus Well-Known Member

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    Harry Marcus, 4th May, 2021
    #17
  18. standtall

    standtall Well-Known Member

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    standtall, 5th May, 2021
    #18
  19. Illusivedreams

    Illusivedreams Well-Known Member

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    Illusivedreams, 5th May, 2021
    #19
  20. The Falcon

    The Falcon Well-Known Member

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    Huge. Early guidance was 2m. Buyer intention is to just reno that one apparently - not the $1.5m that needs to be spent to do position justice! Bloody ugly street.
     
    The Falcon, 5th May, 2021
    #20
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