We are more than half way through November and only have a handful of weeks up our sleeves until Christmas but the elasticity of this property cycle seems to keep proving its strength week after week.
There is now real cause for concern for the impending slope in the current property cycle with speculation of an interest rate hike, uncertainty of President elect, Donald Trumps policy affects and the duration in time without a pause.
Although there was a slight drop in the amount of property scheduled for Auction at the weekend compared to the same time last year, we still saw a solid percentage of property cleared.
There was originally 768 scheduled Auctions with 510 reported to have taken place and 430 reported to have sold under the hammer. There were 31 properties withdrawn for whatever reason.
The median price of property sold at Auction was strong at $1,221,500 which is still pretty solid.
And, the clearance rate – 79%.
Thomas Merriman.
Thomas Merriman 