Rodney Samuels Consulting: The State of the Market

With a jump in reported auctions to just over 700 on the weekend we are starting to see the available property increase but it appears that the market is able to absorb it.

A clearance rate of 77% was achieved on the weekend and the auctions that I attended were very competitive.

After speaking with agents in different area’s the common theme was that people were bidding confidently but when a property passed in people were there to negotiate and do a deal.

Whilst the economy is not 100% perfect it certainly appears with lower returns on bank deposits some investors are returning to bricks and mortar.

What does this mean for the market?

Well with low levels of good quality stock available we may continue to see pressure applied as more money comes into the market but stock levels don’t increase, as demand continues to out strip supply there is only one was prices will go.

Send us a message and we will get back to you promptly.
0402 149 966