The auction market within Sydney is performing well with the north shore leading the way.
The improvement in the Sydney property market has been linked to
the cut in official interest rates. This policy shift has fed into reductions in the mortgage rates of the bulk of the banks. If homes on the north shore continue to appeal to buyers then there may be higher demand for Brochures from St. Leonards going forward.
The weekend after the changes to mortgage rates witnessed a transformation in the performance of the market. It has been reported that the citywide clearance rate nudged over the 80 per cent level. This score was almost the equal of that recorded during the boom in house prices last year. Further, the recent figure was about 9 per cent higher than the number for the previous week and it was significantly higher than the 2016 average.
The success was not confined to any one area. Nevertheless, the different parts of the north shore recorded especially impressive rates of clearance. For example, nine out of ten properties were purchased in the region of Canterbury Bankstown.
However, the news was not reported as being positive for everybody. This is because it would appear that house prices will resume their upward march. This may be awkward for some of those looking to get on the property ladder for the first time.
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