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From: Peter Davidson
Here are the weekly Auction clearance rates for Melbourne:
51% Sold
49% Passed In.
This is the lowest it has been since I've been collecting stats. You really got to wonder what is going on here people. Can I smell a bust?
I wonder whether it is:
a) A weakening market
b) Hungry Vendors
c) Just too much stock available
You decide.....
An interesting note though. After scanning through the results most properties on average were 20-60K below reserve. There were some 5-10k below reserve, but I can't help think that these were dummy bids. A few houses didn't even get a bid!!! Unheard of 6 months ago. Tell you what, it's going to be an interesting next 6 months.
Here are the weekly Auction clearance rates for Melbourne:
51% Sold
49% Passed In.
This is the lowest it has been since I've been collecting stats. You really got to wonder what is going on here people. Can I smell a bust?
I wonder whether it is:
a) A weakening market
b) Hungry Vendors
c) Just too much stock available
You decide.....
An interesting note though. After scanning through the results most properties on average were 20-60K below reserve. There were some 5-10k below reserve, but I can't help think that these were dummy bids. A few houses didn't even get a bid!!! Unheard of 6 months ago. Tell you what, it's going to be an interesting next 6 months.
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