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Those with a vested interest in New South Wales' real estate market may be encouraged by a recent report from the Real Estate Institute of New South Wales.
While auction rates were quite subdued last weekend (July 14-15), they will not be staying that way for long, says REINSW chief executive officer Tim McKibbin.
"Now that we are halfway through winter, we are seeing a clearer picture of the impact the cooler months are having on the property market.
"The past few weeks have seen the clearance rate remain just below 60 per cent, however this figure is expected to increase from now until spring, along with the number of auctions held each week, which should rise to around 500-600," said Mr McKibbin.
The number of properties to go under the hammer was similar from 2011 to this year, posting 350 and 335 respectively.
"This week's clearance rate was 63 per cent, with 172 properties sold and 100 passing in," said Mr McKibbin.
Property pundits may wish to keep an eye on the rising mercury - warmer temperatures may soon be heating up the market.
