Since 2015 Auction results have been soaring, it is obvious and it has been well covered.
Typically, when we have dropped below a certain benchmark it hasn’t been a sustained ‘low’ it generally corrects quite quickly.
However, whether it is Winter coinciding with other external factors, we are starting to see a slightly sustained low in Auction clearance results.
The good news, this ‘low’ is really only around 70% which is normally not an issue, it is just that 80% and 85% have become normal for most of us.
There were originally 787 properties scheduled to go under the hammer on Saturday with 533 reported to have taken place and 418 selling under the hammer.
There were 68 withdrawn for whatever reason.
The Auction clearance rate was 70% which is not a bad achievement with the high number of properties scheduled. The median sale price was not bad either at $1,265,000.