This could be an interesting week with a number of different figures being released that may impact the property market in a positive way.
The Reserve banks meeting is tipped at a 64% likeliness of a rate cut to 1.50% but either way I don’t think an announcement to stay at 1.75% will be a negative impactor on the market.
There were originally 295 properties listed to go to Auction at the weekend with 284 reported to have taken place.
We had 231 reported to have sold under the hammer and 21 withdrawn, for whatever reason leaving us with a 76% clearance rate which seems to be a continuation of this ‘stable’ market.
The median price of property sold at Auction was $1,208,000 with a strong mix of houses and apartments.
Thomas Merriman 