Are School Holidays Affecting The Property Market?

The first quarter of the year has been a strange year for the property market in Sydney and it may possibly have something to do with how public holidays and school holidays have played out.

Vendors typically dislike stop/start marketing campaign for their properties and it is totally understandable. The inconsistency in the market this year has a lot to do with the fact that the Easter Public Holidays were from Friday 25th March to Monday 28th March followed by the school holidays. Vendors should take note;

School Holidays

Saturday 9 April 2016

Tuesday 26 April 2016

School Holidays

Saturday 2 July 2016

Monday 18 July 2016

School Holidays

Saturday 24 Sept 2016

Sunday 9 October 2016

Year on year, we can see the difference in the total value of properties sold. This past weekend there was just $186M worth of property sold compared to $684M this time last year;

APM Auction Results - 16/4/2016

Sydney - CR 67.7%, Listed 360, Reported 229, Sold 182, Withdrawn 40, Total Value $186M, Median House $1,270,950, Unit $750,000.

Same Week Last Year - 18/4/2015

Sydney - CR 85.2%, Listed 743, Reported 671, Sold 600, Withdrawn 33, Total Value $684M, Median House $1,218,000, Unit $765,000.

The total value of sales this year compared to this time last year is only 27%.  

An important observation to make here is also that we are currently in the middle of school holidays compared to this time last year when school holidays had finished. The holidays last year ran from Friday, 3 April to Sunday, 19 April.

Next week there are approximately 400 properties going to auction. The numbers are still quite low. Could it be because of the ANZAC Day long weekend? Could we be seeing a couple of Super Saturdays in May? 

Here is how Sydney performed over the weekend region by region;

  • Lower North Shore – 85%
  • North-west – 83.3%
  • Eastern suburbs – 82.5%
  • Inner-west – 77.8%%
  • Northern Beaches – 71.4%
  • Canterbury Bankstown – 65.4%
  • Upper north shore – 61.3%
  • Western Suburbs – 50%
  • South West – 28.6%