Thomas Merriman

I have read a few articles this morning through Domain and Financial Review using terminology like ‘cooling market’ and ‘downturn’ however, notices a lack of DOOMSDAY style reporting we were seeing a lot of until a few weeks ago.

Also interesting was the amount of positive stories with properties selling hundreds of thousands of dollars above reserve price and others over $10M selling withing 1% or 2% of the asking price.

We have noticed the initial surge of buyers from early in the year have stuck around, unless purchased and the excitement to buy has remained. Buyers have seen competition at open homes and realised that whether we are ‘cooling’ or not, there is competition and this is ultimately the push that will make buyers move on a property.

Auction results dipped slightly but were still solid considering the last 12/18 months at 56%.

Thomas Merriman.