The Age reports 1000 homes on auction this weekend and quotes the REIV saying this will test the underlying demand following a new record median for Melbourne housing.
What do people here think will happen to the clearance rate, and to the market subsequently?
My view is that clearance rate on good properties with realistic prices will be 100% and a clearance lower than 80% overall will convince more buyers to enter the market next weekend looking for a bargain.
http://www.theage.com.au/business/median-house-price-hits-480000-20091023-hdfz.html
What do people here think will happen to the clearance rate, and to the market subsequently?
My view is that clearance rate on good properties with realistic prices will be 100% and a clearance lower than 80% overall will convince more buyers to enter the market next weekend looking for a bargain.
http://www.theage.com.au/business/median-house-price-hits-480000-20091023-hdfz.html
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