The number of buyers coming through open homes seems to be a bit ‘touch and go’ at the moment with most agents I am speaking to saying that it is completely unpredictable.
Properties such as accessible (price wise) apartments and certain ‘renovators’ are not getting the interest one would expect where properties with a search range of $2M + seem to performing well. However, this is changing week by week with other agents reporting that their properties in these categories are performing well with buyer group numbers.
Maybe with the smaller group numbers, when they are all at one open home, the other is empty, and they seem to be following each other around? Is this realistic? I think not.
With this being said the amount of new listings has definitely surged up, as to be expected at this time of year and each week the number of reported Auctions is still quite high with 796 originally listed for the weekend just gone.
Of this 796 only 488 were reported to have taken place with 348 reportedly selling under the hammer.
The thing to take away from this is, we are certainly seeing less buyer numbers, for one reason or another, we are seeing more stock, which we expected and we have certainly seen the clearance rate drop. However, the median sale price for property sold at Auction at the weekend was a staggering $1,192,000 which is incredible.
Auction Clearance Rate: 64% but who cares right?
Thomas Merriman.
Thomas Merriman 