A clearance rat of 78% was achieved on the weekend but with the low stock levels is that the main driver.

A high clearance rate can be an indication of a number of things, such as:
– High demand for homes
– Low supply of homes
– Rising prices
– Buyer confidence
– Seller confidence
A clearance rate of 78% is considered high, and it is likely that low stock levels are a contributing factor. However, it’s worth noting that auction clearance rates can be influenced by a range of factors, and may not always reflect the full story of the property market.

Increasing stamp duty in Victoria may have led to a phenomenon where only lower-grade properties are being brought to market, while high-quality homes are being held back. This could be due to various factors, such as:

1. Vendors of high-quality homes choosing not to sell due to the increased cost of stamp duty, opting to hold onto their properties instead.
2. Buyers being deterred by the higher stamp duty costs, leading to reduced demand for high-end properties.
3. The increased stamp duty costs making it more difficult for vendors to price their high-quality homes competitively, leading to a lack of listings in this segment.

This could result in a market imbalance, where the supply of lower-grade properties increases, while the supply of high-quality homes decreases, leading to a mismatch between buyer demand and available inventory.