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Hi Myla, I think the Auction Clearance rates have been artificially kept up as well. I attended two Auctions over the weekend in Melbourne East/NE suburbs and both got no bids and were Passed In. And both of them dont appear in the REIV Auction Results. I have noticed this trend many...

Jason, Property markets tend to be bit more stable then the share markets so you may not see an effect this weekend BUT there is definately a connection between the global credit squeeze and the local property markets... It may take 6-12 months for the connection to become apparent. But...

Really...Was just going thru the yields in the API magazine and the yields of most of the melb. suburbs have taken nosedive. They are much lower then what they were in 2003 and to think of it the interest rates have increased a minimum of 1.5% - 2% since then. I am in the waiting camp right...