Despite a lot of negativity spreading like wild-fire throughout most media outlets over the last couple of weeks, the market continues to deliver, almost with a stern level of disobedience.
While there has been a lot of speculation over the duration of this ‘boom market’ most of it has been unfounded and predominantly mounted on the hunches of certain ‘professionals’. But now, now we have figures about lending commensurate with what risk is being borrowed, and it is all risk even at the ‘secure’ end of the market.
I maintain that we will not know until it is all hindsight, because all we are doing is measuring what could be with what has been which is not realistic.
The – preliminary – Clearance rate at Auction was up again at 74% with 539 Auctions originally scheduled to take place.
Of the 372 Auction reported to have taken place, 300 were reported to have sold and 35 withdrawn. However, from the list of sold and withdrawn property, I didn’t see a couple that I knew went to Auction and sold, I wonder what the variance on this would be?
Median sale price at Auction $1,220,000 – which is massive.
Thomas Merriman.
Thomas Merriman 