Out of the 8 auctions we attended today 5 passed with 4 of those in the high 1Mil+ range With these 4 auctions, despite there being plenty of buyers – even to the point of buyers hanging around well after the auction had ceased – few (if any) were willing to openly bid. When they […]
Auctions require confidence as well as bidders, and while confidence is in short supply, don’t expect the clearance rate – which again came in at 57% – to increase any time soon. However, there are changes in the market place, and depending on how the next few weeks pan out in the global arena, a […]
The financial fallout in America is not going to do anything positive for investor confidence, however the agents this weekend were taking full advantage of the news to spruik the safety of investing in ‘Bricks and Mortar’. Without exception – in each auction ‘pre-amble’ – there were comments to the effect “the share market is […]
It wasn’t ideal weather for auctions this weekend. Despite the promised sunshine, the day didn’t brighten much from the morning cloud and drizzle. However this didn’t dampen events. Although crowds attending auctions were modest, with neighbours generally choosing to stay indoors rather than stand out on the street – last week’s change in atmosphere continued, […]
There’s a palpable change in the market place which would probably only be noticeable to those who monitor ‘on the ground’ events closely each week. The much publicised ‘hint’ of a rate drop from Westpac’s Bill Evans, along with a noticeable fall in stock and fewer homes being auctioned, has had the effect of ‘shooting’ […]
Last Friday Westpac Chief Economist Bill Evans, made a lonesome brave call of a potential cut in rates. He isn’t the first to suggest an interest rate drop, however he is the first of the ‘big four’ to do so, and therefore the announcement carries influence. However his prediction shouldn’t come as a total surprise. […]
Commentators love terming our market a ‘buyers’ market’ yet ask the average ‘home buyer’ if they’re finding it any easier to purchase property, and I doubt the answer would be an out and out yes! It doesn’t matter how much stock is on the market, if that stock doesn’t suit home buyer’s needs, it can […]
The market has had some stereo typical results of late and the clearance rate of 55% is again representative of properties that sold via negotiation more so than under the hammer. Everything we viewed had genuine bids – but the disparity (as always) was between vendor expectation (not willing to drop the price) and the […]
Most who advocate investment in residential real estate do so because they understand the strong fundamentals that drive our market – much of which I pointed out yesterday. However there’s still this miss-guided perception that real estate can eventuate in quick returns on investment. It’s a myth that’s perpetuated by shows such as Channel 9’s […]
On the face of it, this weekend’s results were not much different to last weeks. However it’s important to understand that no one is going to sound the horn when we hit the bottom of the market. Life doesn’t work that way. By the time people realise the market has bottomed out, it’s because it’s […]
