With the auction clearance rate heading back to the mid 50’s i look forward to the usual chicken little’s saying the sky is falling.

A clearance rate of 54% was achieved on the weekend but we must look beyond the headline number and what I am seeing going through the results is stable pricing.

I often say to people the media is scared by a market that holds value as they can write neither good or bad news and it’s a bit boring so they have to create stories.

Over the weekend I saw some good results and I also saw a few properties pass in. What is interesting and is starting to show that the more stable and affluent area’s are holding their own and that the outer ring and newly developed area’s are the parts of the market most susceptible to change and dropping off in values.

The other pocket copping a hit is the apartment market particularly the off the plan sector as banks are still tight on funding.