The clearance rate in the Melbourne auction market have held very steady over the last few months and with only a couple of auction weekends left in the year we are seeing a strong finish.

With the clearance rate sitting at 77% now we are heading well into growth territory. If the clearance rate starts sitting above 80% the market will be growing well but not booming.

Why does the market grow when we keep being told the economy us slowing?

Well people find confidence in bricks and mortar as your money won’t just disappear like it can with shares.

Most importantly though I don’t believe the economy is as bad as some make it out to be, retail has changed and isn’t the guide it used to be as more and more people shy away from going to shops for the comfort of shopping online.

Using one gauge of a market is just as dangerous as when everyone in the media was predicting the property market would drop by over 30% which just proves the media are only interested in selling their stories not actually reporting what is occurring.

Remember if you would like to find out what is really occurring in the property market please feel free to get in touch.