Weekly Market Wrap 13/03

Weekly Market Wrap 13/03

13 March 2020

Coronavirus: what you can do to prepare your business and staff

REINSW is monitoring the evolving situation in relation to the impact of Coronavirus Disease 2019 (COVID-19). We are putting precautions in place so that the normal course of business may continue as usual.

It is important to make sure your business runs as smoothly as possible in these uncertain times. If you’re wondering what you can do to prepare your business and staff find out more here.

Auction markets dipped this week

There were 1,456 auctions held across the combined capital cities this week, significantly lower than the 3,026 held last week, however higher than the 1,197 auctions held one year ago. The fall in auction volumes this week could be due to the fact that four of the eight states and territories had a public holiday on Monday. 

CoreLogic data shows that in Sydney, 811 homes were taken to auction returning a preliminary auction clearance rate of 82.6%, up on last week’s final clearance rate of 76.6% across a higher 1,087 auctions.

The Inner South-West of Sydney had the highest clearance rate at 86.6% over 92 auctions and Eastern Suburbs’ clearance rate was 84.9% over 110 auctions.

Hot topics

Novice Auctioneers Competition off to a flying start

We had an exciting start to the 2020 Novice Auctioneers Competition in Sydney East Last Friday. Thanks to four competitors and a fantastic audience, we raised $1500 for our charity RISE on the night. Congratulations to the heat winner, Lee Dowdall.

Register now to watch the State Final in Sydney on 18 June 2020.

REINSW Awards for Excellence 2020 – save the date!

The Awards for Excellence recognise the industry's top performers and are designed to encourage, recognise and promote excellence.

Get ready to start your 2020 submission – entries open soon! Here are some important dates to put in your diary:

Entry submission dates: 27 April 2020 – 8 May 2020

Auctioneering Competition: 1 – 2 July 2020

Panel judging of submissions: 20 – 31 July 2020

2020 Awards for Excellence Gala Dinner: 10 September 2020

NEW this year - a Business Development Manager (BDM) category has been added.

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.