There was definitely more stock hitting the market over the last few weeks and this was evident with the large amount of Auctions that were scheduled to take place at the weekend.
As the market heats up and the commentary remains flat-to-negative we may see more property going to auction and not selling, or conversely, less property going to Auction as it is cancelled prior to schedule.
There were 763 properties scheduled to go up at the weekend with 490 taking place and 372 sold under the hammer. There were 65 withdrawn for whatever reason.
The median sale price at auction was $1,282,500 and the clearance rate was 67%.
We are seeing signs of elevating stock levels and buyer numbers through open homes – this, I will continue to note over the next few weeks.
Thomas Merriman.
Thomas Merriman 