After another huge weekend of almost 1100 auctions and 644 private sales recorded by the REIV, we still had a clearance rate in the 60% range. This is showing us that although the market has well and truly turned from last year, good property that is well priced still sells, and sells easily. We no […]
The auction clearance results over the weekend were exactly what most professional Real Estate Agents expected. Clearance rates were again in the 60’s and with next weekend’s potential 1300 auctions the rate will probably drop again. Last year with clearances regularly in the 80% range, buying at auction was simple for people who had money […]
Again last weekend we saw interest in auctions waning. Clearance rates including all properties sold before and after auctions only reached the mid 60% range, although the better properties sold well and with multiple bidding. We are now back to the times where selling agents must prove competition. Most agents will agree there is usually […]
The market has now well and truly corrected!! The balance has been restored to the market place, being that we now see approximately one buyer for one person selling. Last year, there were usually three buyers for every property being sold and this is why auctions did so well. Until the market settles, probably sometime […]
As predicted the reported clearance rate fell below 70% for the second week in a row and don’t hold your breath for any relevant data next week as it is Easter. Has the property market taken a nose dive, is it following the Dow Jones index. NO! There were over 1400 scheduled auctions for last […]
A 67% clearance rate on any normal weekend may justify some thoughts as to where the market is going. But there were only 145 properties passed in. This is less than half of the number passed in the previous week. Only 145 people failed to sell their properties on the weekend. Next weekend there are […]
Clearance rates are not the only market indicator, although the general public could not be blamed for thinking so. Stock supply, interest rates, property presentation and how the sales campaign is handled also plays a big part the sales process. Properties that are well located, well presented and under quoted will always “exceed” public expectations. […]
People buy and sell properties everyday. Whether it be a buyers market or a sellers market. Vendors still want to sell their properties and yesterday morning will have woken to the headlines in the Herald Sun “Home Buyers Bolt” and The Age “Is the boom over?” Are property prices going to start a free fall? […]
We have just seen the results of the first weekend’s auctions that carry some importance. Next weekend has over 1100 scheduled auctions. We can take the results from last weekend and analyse them effectively as there were over 600 properties on the market. We know from the results published in the Herald Sun that less […]
Another week has slipped by this year leaving us no closer to seeing any trends. Whilst the “clearance rate” is up there near 80% there is not enough volume to give us any indication of where the market is going. There were some anomalous results of family homes selling below expectation whilst reports from some […]
