On the weekend we saw a clearance rate of 77% being achieved.
Although when you look at the break down below you start to ask some questions.
Scheduled Auctions
980
Reported Auctions
577
Total Sold
446
Total Passed In
131
Clearance Rate
77%
With people being very cautious about entering the property market, we are probably seeing one of the better times to buy.
Doing the opposite of what everyone else is doing is one of the best ways to make sure you’re not overpaying in a stable market.
We have multiple factors of play.
- People are nervous about interest rate rises.
- People are nervous about the state of the economy.
- People are nervous about life in general in Victoria and Australia wider due to a lack of good governance.
But we will see the other side of this, we will see better times, we will see Good times but what you shouldn’t do is do nothing.
When you do nothing, you go backwards what I’m seeing out there is opportunity.
If you wait until everyone else starts to buy, you will be competing in a hotter market and you’ll pay a higher price. Now we are seeing a lack of competition and those that are out there, confidently and strongly are making a good opportunity of it.
Yes be careful and yes wait until the right property comes along but when it does go for it because you will have less competition today than you will tomorrow.
Once again do the opposite of what everyone else is doing
