I will have both eyes wide open today looking for the Newspaper and Media reports spruiking that the property market has come back and that we are going to ‘boom’ again, displaying positive signs of growth and prosperity. …
Last week and certainly, heading into the weekend, there were very negative remarks about the market, possibly rightly so, with one headline even saying something like ‘50:50 chance of selling your home at Auction’ – the rate was 59% – incorrect maths.
However, the weekend gone has given us a reported clearance rate of 63%, I don’t want to be premature or reactive but in light of the recent reactions of media coverage in the Real Estate market, wouldn’t this mean we are in a ‘growth market’ or is my facetiousness getting the better of me.
Of course, it is premature and possibly, incorrect to assume that we are about to go through another period of growth but I think it is a great sign to see some confidence in buyers again.
With 940 Auctions scheduled to take place and 569 reported to have taken place we had 407 properties reportedly sold under the hammer at the weekend. This number of listed Auctions and reported Auctions shows that vendors and agents still have faith in the Auction market and with this percentage of buyers buying at Auction, clearly they do too.
Once again, the shining light from the latest results is the median sale price; $1,136,000.
Thomas Merriman.
Thomas Merriman 