News

What happened to the Markets in June?

By Jessica Ridder

Market Review

In terms of the overall property market, the latest auction clearance rates from RP Data showed a 4% increase in the Sydney clearance rate to 54%, while Melbourne dropped slightly to 53%. The declines were greater in Brisbane and Adelaide, with clearance rates of 22% and 35% respectively. Volumes in other capital cities were too low to yield meaningful volumes. Ray White Blackheath appears to be bucking against the trend having recorded an 83% auction clearance rate for the last 3 months (Source: APM – 7/6/11).

Traditionally when the markets get tough and buyer activity drops the stronger agents with good infrastructure and processes in place will rise to the top and continue to sell well, while other agents are struggling to record sales.

In an overview of the Blackheath housing market Australian Property Monitors reported the following for Agency Performance over the last 3 months;

Agency Performance Blackheath – Last 3 months  (Source: Australian Property Monitors-  7th June 2011)

Days on Market –

*Average Days on Market for 2785 are 89 days.

*Average Days on Market for Ray White Blackheath are 78 days- lower than the average.

 (Source: Australian Property Monitors-  7th June 2011)

Number of properties sold by Private Treaty –

*Average per agency in 2785 – 5 properties

*Sold by Ray White Blackheath – 19 properties

 (Source: Australian Property Monitors-  7th June 2011)

Average sale price-

*Average sale price for 2785 since Jan 2011 – $322,800

*Average sale price Ray White Blackheath for SOLD properties in 2785 since Jan 2011 – $434,811

Ray White Blackheath are selling on average $112,011 above the average sale price for 2785. (Source: RPdata- 17th June 2011)

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