Weekly Market Wrap 21/02

Weekly Market Wrap 21/02

21 February 2020

Auction clearance rates soaring

Auction markets across the combined capital cities last weekend showed a strong result, with preliminary clearance rates around the 80% mark across the largest auction markets. According to CoreLogic the number of properties taken to auction tracks well above levels from a year ago which sat at 51.2%.

583 homes were taken to auction last weekend in Sydney, with an auction clearance rate of 75.4%. North Sydney and Hornsby held the most auctions where 92 auctions returned a clearance rate of 89.9%; while in the Inner West, 56 auctions were held returning a rate of 85.1%.

Certificates of Registration: New rules around renewals effective March 2020

Current Certificates of Registration that expire on or before 22 March 2020 must be renewed BEFORE 20 March 2020 in order to ensure that a transfer to the new four-year certificate occurs on 23 March 2020. Click here for more information.

Cooling-off periods – changes could make it easier for buyers?

In response to industry feedback, REINSW has made a submission to NSW Fair Trading seeking an amendment to the Conveyancing Act 1919 (NSW) (Conveyancing Act) to make it easier for buyers to waive the cooling-off period. Click here for our summary on how this will affect buyers.

Hot topics

Roadshow: Win two nights’ free accommodation worth $500

Realty Protect are running a competition at the REINSW Roadshow to win two nights’ accommodation in a bushfire impacted region. Make sure when you attend this year’s Roadshow, drop your business card into the bowl to win. The winner will be drawn on 21 May 2020, the final day of the Roadshow in Campbelltown.

Don’t miss out, click here to get your tickets to the Roadshow.

Click here for more information about Realty Protect landlord insurance .

WIRE: 20% early bird special expires end of February

Wire 2020 'Legacy. Hear from incredible women (and men) who carve out their legacies every day. They are some of the most inspirational and motivating local and national speakers.

What you can expect:

10 world class speakers
Most inspirational and motivational female empowerment event of the year
Networking opportunities with the best in the business
FREE goodie bag
Breakfast, morning tea and lunch provided

This event SOLD OUT last year. Click here to purchase your ticket now.


Want more?

  • Want to keep up-to-date with industry news? Become a member today
  • If you're a member and have any questions call the REINSW Helpline on 9264 2343.
  • Beat 23 March 2020. Get qualified. Save time and money having your experience recognised with Recognition of Prior Learning. Discounts offered for groups of five or more. Learn more.