I have made a habit of quoting Auction results week after week however the accuracy of reporting on the market based on these figures is becoming less likely to provide thorough feedback of the current market.
We are noticing more and more that good properties with solid interest are going to auction and performing well. The other kind of property going to auction are properties that don’t really have much interest and the auction process is really just a way of really crossing all the i’s and dotting all the t’s.
Setting up the Auction campaign is the most important part and we only ever focus on the outcome, or lack of outcome.
That being said, it is still good to get a cross-section of the market by analysing these figures.
The Clearance rate was 625 with 354 reported Auction and 271 reported sales under the hammer.
The big news is the median sale price was up high at $1,285,000.
Thomas Merriman 