It would seem my little hunch was right. I mean, anything can change in 24 hours, but it seemed to quiet for the Auction rates to start sliding anytime soon and now the media are having a field day with ‘low stock levels’ but Spring is coming soon – sooner, I think.
There were originally 464 properties scheduled to go to Auction with 339 taking place and 294 reported to have sold under the hammer. There were 16 withdrawn for whatever reason.
With an Auction clearance rate of 83% and a shortage of properties on the market compared to this time last year, it is no wonder the media have jumped onto this one. And, with the official cash rate at 1.50% calling for another interest rate cut – why wouldn’t they be excited. It wont be long until they start to prompt some sort of government action or blame a certain type of buyer or something to try and get the next headline.
But, for now, sellers just enjoy, and buyers, there will be choice soon!
Thomas Merriman.
Thomas Merriman 