Inner west auction data to 4th July

Buyer’s Agent Read

The Inner West is much stronger that the general Sydney auction clearance rate, with a 67.1% clearance across my tracked suburbs against 50% Sydney-wide. The volume of properties increased, with 77 properties listed versus 51 last week, and 16 withdrawn before auction. The clearance rate for the inner west this week has improved significantly this week, the highest it's been in two months. The tightening of supply could be influencing a stronger clearance rate.

The sold-prior rate remains high. Of 47 sales, 27 sold prior to auction which is 57.4% of vendors choosing not to run to auction day.

Drummoyne, Balmain East, Croydon, Summer Hill, Forest Lodge and Sydenham recorded no auctions at all this week.

Properties in Newtown continues to struggle at auction. Five properties listed, two sold, but both prior to auction, with three withdrawn before the day. Petersham is showing the same with five properties listed, two sold prior, two withdrawn, one postponed.

Alexandria was a soft spot this week with six properties listed and three passed in signaling the continued disconnect between vendor and buyer expectations.

Balmain also struggle however Balmain is typically a suburb with fewer properties selling at auction in favour of negotiations prior. Of the five listed, one sold prior to auction, two withdrawn, one passed in, one postponed.

The strongest suburb was Stanmore with five out of five sold. That included 38 Percival Rd at $2.67m at auction and 6 Surrey St at $2.2m which passed in but sold that day (still auction conditions). Lewisham (3 out of 3) and Rozelle (3 out of 3) also sold. Several properties that had been postponed from the previous week came back and sold including 17 Belmore St Rozelle ($1.9m), 52 Lilyfield Rd Rozelle ($1.51m), 100 Terry St Tempe, and 11 Rogers Ave Haberfield all found buyers after postponing their auctions.

Biggest sales of the week include 35 Arlington St, Dulwich Hill which sold for $3.075m prior to auction. Followed by 36 Denison Rd, Lewisham ($2.89m at auction), 38 Percival Rd, Stanmore ($2.67m at auction), 9 Crescent St, Rozelle ($2.415m at auction), and 229 Belmont St, Alexandria ($2.25m prior to auction)

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The stats

Of the reported auctions (Domain's denominator):

• 70 reported
• 67.1% IW clearance
• 25.7% at auction
• 38.6% prior
• 10.0% passed in
• 22.9% withdrawn
• 2.9% sold after