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Property Market Update – 22 August 2016

24 August 2016 |  by  |  Weekly Market Updates

Property Prices

Sydney and Melbourne price growth continues at a very bullish rate. This is also reflected in very strong auction clearance results. Most commentators don’t expect this to continue, but so far the length of the upward trajectory has proved nearly every commentator wrong.

Trends by city

Percentage by city

RP Data. Understand the limitations to the quality and timeliness of Australian real estate data.

 

Auction Clearance Rates

Market Commentator Insight

  • Brisbane commercial real estate agent pleads guilty to defrauding clients of $1.6 million (23 August 2016, Staff Reporter,  Property Observer). Click here to read more.

Takeout:  Estate agent James Lyons has pleaded guilty to defrauding clients of $1.6 million, according to the Courier Mail.

  • Three privately owned terraces in Sydney’s east on the market (23 August 2016, Staff Reporter,  Property Observer). Click here to read more.

Takeout:   Three family-held adjacent commercial terraces in Sydney’s east are on the market, an illustration of the emergence of the area as one of the most tightly held regions for commercial property, according to CBRE.

  • Strathfield, Sydney trophy leads top 10 sales: CoreLogic (22 August 2016, Staff Reporter,  Property Observer). Click here to read more.

Takeout: The top sale for the week ending 21 August was a four bedroom home in the Sydney suburb of Strathfield, according to CoreLogic.

  • JULY DELIVERED A SLOW RISE IN NATIONAL RESIDENTIAL VACANCIES (23 August 2016, Louis Christopher,  Property Update) Click here to read more.

Takeout: Figures released by SQM Research this week have revealed that the number of national residential vacancies rose slightly during July, recording a vacancy rate of 2.5%, and 79,300 vacancies.

  • THE WEEK THAT WAS IN PROPERTY (19 August 2016, Tim Lawless, Property Update). Click here to read more.

Takeout: Late last week the Australian Bureau of Statistics (ABS) released lending finance data for June 2016.

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