With the market now in full swing with a full auction calender over the weekend we are now starting to see some consistency in the markets performance.

A clearance rate of 79 per cent was recorded this weekend compared to 80 per cent last weekend and 75 per cent this weekend last year. There were 867 auctions reported to the REIV, with 681 selling and 186 being passed in, 79 of those on a vendor bid. More than 3,100 auctions are scheduled this month, an increase of three per cent on February last year.

As the year rolls on I believe we will see more of the same. The strong market is still being driven by demand and supply factors. As we have seen over the last couple of years the market has beeing struggling to keep up with the increase in population and therefore demand.

This is not a problem that will be rectified over night and may not ever be fixed. Playing with factors like negative gearing will not alter the market greatly. The biggest factor is we have a short fall of supply in the desirable affluent areas.

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