Auctions at the weekend were hardly worth reporting, less than 50 scheduled and therefore the clearance rate was of no consequence to the market – aside from the fact it was a long weekend.
So far this year we have seen a continuation of positivity from buyers from last year and the re-entry of those buyers as well as a new onset of buyers to the 2018 marketplace.
Although sentiment is not at its peak, the volatility reported in the media regarding the property market has piqued buyers’ interest and assisted with foot traffic at open homes.
This may sound counterintuitive, but when markets such as our Sydney market see a solid run upward and then finally report stabilisation, disenfranchised buyers return to the market.
The Auction clearance rate is stable above 60% and some weekends closer to 70% but we are still seeing a strong amount of property scheduled for Auction, what is changing is the amount of property actually going to Auction – this is impacting this clearance rate figure.
Overall, if you are looking to sell, sell when you are ready, the market is not performing in predictable trends at the moment but be prepared to spend a bit more time negotiating than the past and a good deal will certainly be achievable.
Thomas Merriman.
Thomas Merriman 