The Australian stock market is currently performing at a 12 month low based on the S&P ASX 200 Stock market index and other indicative stocks i.e ASX (ASX limited FPO).
As the property market started to slow, namely the Sydney market, the stock market started to rise, and rise rapidly. For the most part of the year the market has gone through a dramatic rise which has however eased, or plummeted quite dramatically over recent weeks.
This is a strange phenomenon as it would have originally seemed as though investors were swapping markets and planting their money in the stock market for the risk of a lowering property market.
However, both markets are sitting at their lowest point in recent times in spite of the fact that neither have experienced any material impact merely sentiment and confidence based on predictions and fear.
That being said, the only way is up.
There were 677 properties scheduled for Auction with 357 reported to have taken place and 241 reported to have sold.
The clearance rate was 48% and the median sale price was $1,228,000 which is quite high.
Thomas Merriman 