Did a bumper weekend of auctions bring the results or was it more of the same from the market.

With 1930 auctions scheduled for Saturday it was going to be one of the biggest auction weekends of the year, although only 1106 were conducted we still saw 821 sell either under the hammer or shortly afterwards bringing a clearance rate of 74%.

74% is a solid clearance rate to be achieved, it is not a sign that the market is flying along but a sign that the good properties will sell and the bad will be passed in or not sold at auction.

With an increasing population in Victoria combined with record levels of investors leaving the market to look at other opportunities due to the oppressive nature of our State Governments taxes and rules for property investors we are seeing a lull in that sector of the market, although as rates plateau or even drop we may see investors return in the hope of capitalising on a growing rate of return.

One thing that is for sure is that the Government will not be changing the Stamp Duty approach as it makes up roughly a third of State income or $30 billion dollars.

I have never met a politician that would give up that much tax, not matter how much it hurts the sector or the publics ability to move house.