Well, it happened.
We’ve all been waiting for it to happen, and it has happened; The Auction Clearance Rates dropped below 80%.
I am not surprised, nor concerned However, it is a startling reminder of how turbulent this market can be.
It is not just, high prices, high clearance rates and low interest rates every single day of the week, some people become blasé about certain elements but this is a good reminder of another way of thinking.
The clearance rates were at 79% at the weekend, please note: this is no shabby result.
With 644 Auctions scheduled to go ahead and 500 properties reportedly taking staged across Sydney there was apparently 426 sales at Auction.
The median sale price for property at Auction on Saturday the 1st of August was $960,000.
The RBA announced that interest rates will remain at the same level, keeping the market strong and buyer sentiment high.
However, there is mounting speculation that there will be a point where the stimulation of buyers by low interest rates changes, even slightly. But for now. …
Thomas Merriman.
Thomas Merriman 