Market Comment – Monday 10th December 2007

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By Market News

Although the auction clearance rate dropped below 80% for the second week in a row, the properties that did sell, sold very well. All the auctions we attended went at, or above our expectations. This is quite normal with only one scheduled auction weekend remaining this year.

Prospective purchasers that are unable to secure properties in the next week will have to wait until mid to late January before the next season kicks in. There will be a flurry of before and after negotiating this week and early next week before the market closes for the festive season.

Ian James

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About the author

Ian has been operating his own businesses for more than 25 years. During this time the self taught lessons of building the business, dealing with staff, suppliers, clients and economic woes have been invaluable. Ian is a fully licensed Real estate Agent, a member of the REIV and registered with the Business Licensing Authority.

Buying property is not just sticking up your hand and outbidding your rival. It is an emotional, fiscal and psychological decision that needs to be planned and well executed. Ian is usually involved in over three hundred property negotiations per year; ranging from the $250,000 first unit purchase for a young couple to multiple million dollar residential developments. Ian's business background and endless numbers of negotiations make him one of the industry's leading negotiators.

Ian is married with two adult children, living in Patterson Lakes. He is a keen fisherman when weather and business allows the time.