We are officially returning to a normal market with a few consecutive months of stable figures, Auctions are sitting around 50% to 60% and price growth has slowed for most segments in the market.
As the price growth has slowed, some prices are still above the odds however, it always comes back to the asking price and whether that is in line with market expectations or now.
There were 442 properties scheduled to go to Auction with 264 reported to have taken place and 179 reported to have sold.
While we isolate the negative aspects of a slow market, it is important to note that more than 50% of property that went to Auction sold confidently at Auction. In a market where buyers are assisting in depressing the market, this is a great result.
Good stock is still selling and well-priced properties are being Auctioned well while everything else is either selling prior or pushing offers after the Auction.
The median sale price of property at Auction was $1,155,000
Thomas Merriman 