Rodney Samuels Consulting: The State of the Market

With most auctions now being converted to private sale is the auction clearance rate really that important.

I think we need to look at what is occurring not only with auctions but private sales and also are people still out and about looking.

A clearance rate of 89% was achieved with some public auctions being moved to online, but most property is being sold privately.

Speaking to different agents they tell me whilst there is obviously less people looking, those that are are serious buyers be it for home or investment and we have seen the drop more around the tyre kickers and nosy neighbours.

People and some agents have adapted quickly to the change and I have had multiple people tell me they prefer this change as it’s more black and white and don’t feel as many games are being played by the agents.

So moving forward we will still see properties bring bought and sold but I believe more will be done off market and quietly.

The changes will bring opportunity.

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