With a slightly lower number of auctions being conducted on the weekend the auction market was still the model of consistency.

With about 650 auctions conducted due to a lot selling early we saw a clearance rate of 77% achieved.

I am sure we will continue to see the doomsayers out in the media but I have noticed lately a change in the tune of some reporters.

The problem is they go from one extreme to another and are now saying we could have double digit growth rates next year. Whilst I am positive about the state of the market I am not that optimistic.

I believe over the next 12 month’s we will continue to see consistent growth and maybe push towards the magic 7% mark but I don’t think we are heading towards another boom.

As we are now in the Spring Market we should see a little more supply become available, will this quell the market or just bring more buyers back into the fold?

I believe it will invite more people in but I also don’t believe we will see a huge jump in auction numbers as we are in a charging market particularly in Victoria as a lot of home owners are choosing to stay put and renovate rather than sell and move due to stamp duty.

This is the topic no one is talking about in the media, the cost of moving has got out of hand as the prices have grown.

It is now becoming cost prohibitive to move due to Stamp Duty charges.

I will be looking into this issue in my next Market Drivers 101 video.