The sky is falling the sky is falling, well now I have got that part out of the way we can discuss the slight drop in the clearance rate in the Melbourne property market.

With a clearance rate of 68% achieved on the weekend we are still seeing great results recorded across Melbourne but we need to look at this result in the grand scheme of the property market.

You can’t simply see one weekend have a drop and assume the whole market is now stuffed, if we see 3 or 4 weeks like this then yes we may need to reassess the market but not off one weekend of results.

Secondly in any other market this would still be considered a strong performance it’s just that we have gotten so used to seeing a clearance rate in the 70% range that as soon as it drops a little we see the usual howls of “the sky is falling” from chicken little (the media).

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