This weekend’s clearance rate was 54%. It is well down on last year’s 68% according to REIV statistics. With only 690 auctions over the weekend, compared to well over 1000 this time last year, the turnover of properties is substantially down. A clearance rate in the 50’s is a trend we’re starting to get used […]
The wheel never stops turning in the world of real estate, and it’s no different when it comes to a long weekend. Less properties are auctioned on a long weekend, but this isn’t because vendor’s are worried buyers will be putting a weekend away ahead of bidding on the house they’ve been dreaming of during […]
It’s time to address the buyers who haven’t been deterred from the market with reports in the dailies banging the drum of impending doom After all, as the saying goes – you’ve got to be in it, to win it -and we’re in the stage of the market cycle where there’s a window of opportunity […]
Are we starting to see more distressed vendors than may have been reported? Australia wide, the delinquency rate has climbed from around 1.4 per cent to 1.79 per cent. It may be low in comparison to Europe and America, however it’s a figure the reserve bank should be paying close heed to because it seems […]
The clearance rate last weekend came in at 53%, yet still we’re seeing record numbers of vendors opt to market their properties for auction rather than private sale – Why? Well as a method of sale, the auction system is still regarded as the best way to attract attention throughout the marketing campaign. Selling via […]
Anyone working in the real estate industry always gets accused of talking up the market for their own ‘greedy’ ends. However, when you’re working on the buyer’s side it allows somewhat of a level playing field to call things as they are. As buying agents we have no vested interest in stimulating a bullish atmosphere; […]
We’re currently in what I’d term an ‘opportunistic’ market. An agent today quoted another phrase which I thought summed it up well – an ‘honest market’ We witnessed five auctions this weekend with only one property selling ‘under the hammer’ All were quoted ‘conservatively – all had multiple bidders; however the only one to sell […]
We have now segregated our market wrap from our market comments. From now on each Monday morning you will see the statistics that are available and some of the auctions and properties we have attended over the weekend. On Tuesday we will now write a more comprehensive market comment based on emerging trends and issues […]
