Auction clearance rates?

From: GoAnna !

In Melbourne the clearance rate for Saturday 15th was 81%. This is down 4% on the previous week however 4% is a normal variation from one week to the next so it may not indicate a drop.

I have been hearing that things went well for most however I did notice that a number of higher priced properties passed in. My impression was that middle range properties seemed to be doing the best.

It is still early days in terms of the flow on effect from US and Ansett.

GoAnna !
Why not go out on a limb, that's where all the fruit is. (Mark Twain)
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Reply: 1
From: H T

here's a bit of anecdotal evidence

Elwood - big old 20's, needs stacks of work but big block, not a bad street

Its a market I have reasonable knowledge about.
5-600 2 years ago, sell 1.055 or something crazy, agent quotes 700's

still hot

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Reply: 1.1
From: Michael Yardney

A number of agents I know well told me some vendors are becoming a little anxious and are keen to sell NOW, before auction if possible in case a war breaks out and they can't sell in a few weeks time.
I know I am a little uncertain. I am stalling on one deal I would have snapped up before, just waiting to see what happens in the world
Michael Yardney
Metropole Properties
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