Vendors eye private market as auctions cool

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 90%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

In Sydney, 28 per cent of scheduled auctions were withdrawn, the highest rate since April 2020.

Close to 30 per cent of homes listed for auction in Sydney were withdrawn in the past week as nervous vendors retreated in the face of a cooling market.

So far, auction volumes remain relatively strong compared to longer-term averages, although the crunch will come in the spring selling season, when clearance rates could fall further, according to Mr Christopher, and vendors must decide if they want to sell through the auction market. Ray White NSW chief auctioneer Alex Pattaro, whose agency sold the Clovelly house, said the auctions market had settled into its typical winter mode.

But that shrinking pool of new listings could ultimately lead to better prices if more buyers are bidding, Mr Pattaro said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Aus propadee is a ticking ⏰ 💣

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines