{"id":33273,"date":"2020-07-09T08:24:03","date_gmt":"2020-07-08T22:24:03","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/geelongtimes\/news\/property-market-proves-remarkably-resilient-as-sellers-return\/"},"modified":"2020-07-09T14:54:42","modified_gmt":"2020-07-09T04:54:42","slug":"property-market-proves-remarkably-resilient-as-sellers-return","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/geelongtimes\/real-estate\/property-market-proves-remarkably-resilient-as-sellers-return\/","title":{"rendered":"Property market proves \u201cremarkably resilient\u201d as sellers return"},"content":{"rendered":"

WITH REALESTATEVIEW.COM.AU<\/em><\/p>\n

Australians who shelved plans to sell their home at the start of the pandemic are slowly returning to the market.<\/h3>\n

As state and territory governments gradually lift virus restrictions with the exception of Victoria, new data from CoreLogic shows the number of auctions scheduled in June (1,164) was roughly double the weekly average recorded in May (589).
\nEncouraged by governments\u2019 handling of the health crisis and the recent return of on-site auctions, vendors are relisting their homes and feeling more confident about finding buyers.
\nAnd clearly, if you look at the Sydney clearance rate in particular, the buyers are there at the moment to take up that extra supply.
\nAlmost two-thirds (63.3 per cent) of homes scheduled for auction in the week ending June 14 found buyers, according to CoreLogic\u2019s preliminary weighted clearance rate across the capital cities.
\nOf the 795 results CoreLogic captured, 502 homes sold and 293 did not.
\nAll of these figures are quite encouraging for the market at the moment, but what we need to bear in mind is that they are coming from a low base, because the impact of the coronavirus was quite dramatic.
\nCoreLogic\u2019s advice is we need to continue to be vigilant in making sure that all the containment measures that are in place continue to keep coronavirus cases at bay.
\nSydney and Melbourne \u2013 the nation\u2019s busiest auction markets \u2013 both recorded clearance rates above 60 per cent in recent weeks.
\nMelbourne also experienced a rise in the numbers of properties selling at auction over the same period.
\nWakelin Property Advisory<\/a> director Jarrod McCabe said homes selling below $1.5 million had held up most during
\nthe crisis.
\nHe said this was because homes in this price bracket enjoyed more diversified demand \u2013 appealing to everyone from first-home buyers and families, to investors and up-sizers.
\nMr McCabe said the federal government\u2019s successful handling of the pandemic had encouraged buyers to return.
\nBut he said the market\u2019s real test would come in spring.
\n\u201cEven in a strong market, you quite regularly see the clearance rate drop through spring, because of the significant increase in supply,\u201d Mr McCabe said.
\n\u201cAnd it will be very interesting this year, because we\u2019ll get that again, but it\u2019s also likely to coincide with when some of the government support mechanisms might be pulled back a bit.\u201d
\nThe most expensive sales across the capital cities:
\nSydney\u2019s most expensive confirmed sale was a five-bedroom, one-bathroom home at Strathfield ($5,955,000)
\nMelbourne\u2019s most expensive confirmed sale was a four-bedroom, two-bathroom house at South Melbourne ($5,375,000)
\nAdelaide\u2019s most expensive confirmed sale was a four-bedroom, two-bathroom house at Linden Park ($780,000)
\nBrisbane\u2019s most expensive confirmed sale was a five-bedroom, three-bathroom house at Annerley ($1,550,000)<\/p>\n","protected":false},"excerpt":{"rendered":"

WITH REALESTATEVIEW.COM.AU Australians who shelved plans to sell their home at the start of the pandemic are slowly returning to the market. As state and territory governments gradually lift virus restrictions with the exception of Victoria, new data from CoreLogic shows the number of auctions scheduled in June (1,164) was roughly double the weekly average […]<\/p>\n

Read More…<\/a><\/p>\n","protected":false},"author":29,"featured_media":33307,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[19],"tags":[],"post_folder":[],"class_list":["post-33273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"acf":[],"yoast_head":"\nProperty market proves \u201cremarkably resilient\u201d as sellers return - Geelong Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/geelongtimes\/real-estate\/property-market-proves-remarkably-resilient-as-sellers-return\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Property market proves \u201cremarkably resilient\u201d as sellers return - Geelong Times\" \/>\n<meta property=\"og:description\" content=\"WITH REALESTATEVIEW.COM.AU Australians who shelved plans to sell their home at the start of the pandemic are slowly returning to the market. 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